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#2195709 - 10/17/18 08:07 PM SAR leak
edAudit Offline
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#2195716 - 10/17/18 08:26 PM Re: SAR leak edAudit
BrianC Offline
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Good board training fodder for when they ask the BSA Officer, "Why don't you give us the names of the SAR filings."
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#2195718 - 10/17/18 08:28 PM Re: SAR leak edAudit
Elwood P. Dowd Offline
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Dozens of articles, all appearing within the last 4 hours.

Seriously depressing... frown
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#2195726 - 10/17/18 08:45 PM Re: SAR leak edAudit
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This is absolutely infuriating!!
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#2195730 - 10/17/18 08:50 PM Re: SAR leak edAudit
HappyGilmore Offline
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Pulling people out of the ditc...
i am glad they are pursuing this. if banks can't rely on the confidentiality of these reports, they will stop filing them...or at least think long and hard about each one filed...
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#2195768 - 10/17/18 10:37 PM Re: SAR leak Sugar Coater
Richard Insley Offline
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Originally Posted By Sugar Coater
This is absolutely infuriating!!
+1
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#2195769 - 10/17/18 10:39 PM Re: SAR leak HappyGilmore
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Originally Posted By HappyGilmore
banks...will...think long and hard about each one filed...
They damned-well should have done that for each and every SAR they ever filed.
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#2195777 - 10/18/18 11:08 AM Re: SAR leak edAudit
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My issue is that the SAR's are being filed for suspicious activity which on at least on some are being filed on some really bad individuals. (international terrorist, Various Gangs, international governmental agency's ) and the potential of violence against the person that notified the government about the illegal activity.

A five year, $250,000 fine for the leaker is no where enough.
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#2195779 - 10/18/18 11:34 AM Re: SAR leak edAudit
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#2195780 - 10/18/18 11:56 AM Re: SAR leak edAudit
Richard Insley Offline
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Originally Posted By edAudit
A five year, $250,000 fine for the leaker is no where enough.

The complaint alleges there were 541 messages between Edwards and the reporter. If it's proven that each message illegally transmitted SARs or related information, would that mean she could be facing 541 X 5 yrs = 2,705 yrs. in federal prison? That sounds much better!
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#2195783 - 10/18/18 12:17 PM Re: SAR leak edAudit
edAudit Offline
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2,705 yrs sounds about right.

I had heard that she was only going to be charged with 2 counts and with a plea...
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#2195785 - 10/18/18 12:24 PM Re: SAR leak edAudit
edAudit Offline
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next issue if she was not authorized to be able to save the SAR's on an external drive why did she have access? I am authorized and have a daily need yet in my place I still need each item approved.
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#2195797 - 10/18/18 02:11 PM Re: SAR leak edAudit
John Burnett Offline
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A careful read of the complaint reveals some of the ways in which the FBI and FinCEN were able to show what was compromised and how. Worthy of a spy novel. And that there is an unnamed Associate Director at FinCEN suspected of also communicating hundreds of times last year with the same unnamed reporter. An amazing amount of information in those 18 pages of the complaint.
Last edited by John Burnett; 10/18/18 02:19 PM. Reason: error corrected
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#2195799 - 10/18/18 02:16 PM Re: SAR leak Richard Insley
HappyGilmore Offline
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Pulling people out of the ditc...
Originally Posted By Richard Insley
Originally Posted By HappyGilmore
banks...will...think long and hard about each one filed...
They damned-well should have done that for each and every SAR they ever filed.


i won't disagree with that...but we also both know about the prevalence of defensive filings when there is no need, and many a regulator insisting on filing ones where the level of activity doesn't even come close to being worthy under threat of negative report from the regulators...
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#2195817 - 10/18/18 03:11 PM Re: SAR leak edAudit
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And that there is an unnamed Associate Director at FinCEN suspected of also communicating hundreds of times last year with the same unnamed reporter.


Just asking and do not expect an answer

why unnamed and why not prosecuted to the fullest
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#2195821 - 10/18/18 03:22 PM Re: SAR leak HappyGilmore
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Originally Posted By HappyGilmore
we also both know about...regulator insisting...under threat of negative report...
...and now there is a specific objection to these heavy-handed "recommendations."

This is much more than a crime--a trust has been broken. Banks and the rest of the financial services industry were betrayed. We were promised...decade after decade...that this information would be guarded against public release.
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#2195823 - 10/18/18 03:28 PM Re: SAR leak edAudit
BuckDog Offline
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So much for "secrecy". Five years is not enough and whoever is the Associate Director needs to be named and charged. As well as the reporter. I think my file for "non filed" SARs will get bigger with a lot of documentation for not filing. Maybe the main reason will be for "risk of retaliation" from the subject due to the risk of the SAR being disclosed. ....... ( Hands in Face).

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#2195826 - 10/18/18 03:36 PM Re: SAR leak edAudit
HappyGilmore Offline
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Pulling people out of the ditc...
i will be very surprised if any jail time is actually served, i'm betting suspended sentence and probation...just my opinion
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#2195831 - 10/18/18 04:06 PM Re: SAR leak edAudit
edAudit Offline
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not file log

Although customer is a know Mob hit man, $100,000. cash deposit we will not result in a file due to last SAR filed on this customer resulted in an job opening due to death of employee who filed.
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#2195854 - 10/18/18 05:56 PM Re: SAR leak edAudit
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Does this DOJ press release really disclose the names of the suspects? While the name of the reporter "Reporter -1" and "News Organization-1" are not included?


https://www.justice.gov/usao-sdny/pr/sen...disclosing-sars

"The illegally disclosed SARs pertained to, among other things, Paul Manafort, Richard Gates, the Russian Embassy, Mariia Butina, and Prevezon Alexander."

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#2195869 - 10/18/18 06:58 PM Re: SAR leak edAudit
John Burnett Offline
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They aren't pursuing the reporter or his employer because of the free press implications, so they are not named. Note that there's another FinCEN personality designated as CC-1 (co-conspirator) who is unnamed (and so far, unindicted) except for identification as an Associate Director of FinCEN. Does anyone not think the proverbial poop is going to hit the fan at FinCEN? I wonder what the Twitterverse will have to say about this?
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#2195872 - 10/18/18 07:16 PM Re: SAR leak edAudit
pabankerone Offline
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I understand the free press implications, but why would they release the names of the subjects/suspects? Doesn't that in itself violate the confidentiality of the SAR?

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#2195875 - 10/18/18 07:20 PM Re: SAR leak edAudit
John Burnett Offline
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I'd agree with you except for the "cat's out of the bag" or "horse is out of the barn" (take your choice) situation.
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#2195877 - 10/18/18 07:35 PM Re: SAR leak edAudit
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Why protect the "Reporter" and "News Organization"? Even if they are not going to prosecute, why not say who benefited. Let the light shine on the pond scum.

Might still be building the case against co-conspirator, so I will wait to discuss this one.
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#2195878 - 10/18/18 07:38 PM Re: SAR leak edAudit
Justin Case Offline
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It's very easy to find the News Organization and reporter. Just google the titles of the articles as they are in the complaint.
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