« SEC Sues Former GSE Execs -- But Will the Agency Follow Through? | Main | Corporate Governance: The Option to Incorporate Outside the U.S. »
December 20, 2011
FinCEN is Serious: No Disclosing SARs
The Financial Crimes Enforcement Network (FinCEN) announced that it assessed of a $25,000 civil money penalty against an individual for violation of Bank Secrecy Act (BSA) prohibitions against disclosing suspicious activity reports ("SARs").
The individual contacted the subject of a bank SAR, disclosed existence of the report, and extracted bribes from the subject of the report. The individual was convicted in a criminal case of bribery and unlawful SAR disclosure in the U.S. District Court for the Central District of California.
LInk to FinCEN announcement: http://www.fincen.gov/news_room/nr/pdf/20111215.pdf
(ag) Dec. 20, 2011, in BSA/AML
December 20, 2011 in BSA/AML | Permalink
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341bfae553ef01675f10487a970b
Listed below are links to weblogs that reference FinCEN is Serious: No Disclosing SARs:
