SARs Shared With Third-Party Service Provider

If a financial institution has a contract with a third-party service provider who performs transaction monitoring of the bank's account activity, is it okay for the bank to fax copies of filed SARs to the third-party service provider for follow-up monitoring purposes?

No. It's not permitted to share the SAR or the fact that the SAR was filed with third parties. Just those who work with them in the bank, audit and examiners, bank counsel and law enforcement.

I'm not certain why a third party would need evidence of prior activity. Regardless, the activity can be described to them without mentioning the SAR filing.

Just a reminder -- Faxes are not a secure media