SAR Confidentiality by Lucy Griffin, BOL Guru Guru Bios
Someone - not a financial institution - leaked information about some suspicious activity reports. Presumably, the leakers were in law enforcement - and they should have known better. On the positive side, the leak has drawn attention to the confidentiality requirements and the fact that everyone who uses SARs, not just the institutions that file them, must treat them with total confidentiality. FinCEN's Director, William J. Fox, deplored the release of information, stating that it threatens everything that we have worked to build. Fox reinforced FinCEN's commitment to protecting the information on SARs and committed to investigating any incidents that undermine the integrity of the system.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
