Skip to content
BOL Conferences
Thread Options
#1765295 - 12/07/12 07:38 PM Question - SAR Safe Harbor
BC78a Offline
Gold Star
BC78a
Joined: May 2006
Posts: 311
New York
Am I reading the SAR Safe Harbor provisions correctly?

I just filed a SAR on a customer who was just arrested by a local sheriff's departments.

If I read the Safe Harbor provisions correctly, I am now allowed to call the local prosecutor and tell him to look at the SAR that has been filed; am I correct?
_________________________
___
Just my opinion for what it is worth

Return to Top
BSA/AML/CIP/OFAC Forum
#1765332 - 12/07/12 08:24 PM Re: Question - SAR Safe Harbor BC78a
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 85,239
Galveston, TX
You are allowed:

102.320(e)(1)(ii) Rules of Construction. Provided that no person involved in any reported suspicious transaction is notified that the transaction has been reported, this paragraph (e)(1) shall not be construed as prohibiting:

(A) The disclosure by a bank, or any director, officer, employee, or agent of a bank, of:

(1) A SAR, or any information that would reveal the existence of a SAR, to FinCEN or any Federal, State, or local law enforcement agency, or any Federal regulatory authority that examines the bank for compliance with the Bank Secrecy Act, or any State regulatory authority administering a State law that requires the bank to comply with the Bank Secrecy Act or otherwise authorizes the State authority to ensure that the bank complies with the Bank Secrecy Act;
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1765358 - 12/07/12 08:51 PM Re: Question - SAR Safe Harbor BC78a
BC78a Offline
Gold Star
BC78a
Joined: May 2006
Posts: 311
New York
Thank you
_________________________
___
Just my opinion for what it is worth

Return to Top

Moderator:  Andy_Z