FinCEN and Other Federal Banking Agencies Provide Much-Needed Guidance on Suspicious Activity Reports | Ballard Spahr LLP
SARs Do Not Need to Be Filed At the First Sign of Potential Problems Honoring “Keep Open” Letters from Law Enforcement Should Not Lead to Criticism On January 19, 2021, the Financial Crimes Enforcement Network (FinCEN), along with the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the National Credit Union Administration jointly published Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations. The agencies provided answer...
Source: jdsupra.com