4 ms·
Which bit of the BSA? edit: As I re-read the thread I see that I am thinking more of onboarding KYC, as opposed to this case which would be ongoing-activity in
by theptip 4y ago
Which bit of the BSA?
edit: As I re-read the thread I see that I am thinking more of onboarding KYC, as opposed to this case which would be ongoing-activity investigation. So that would explain the difference in expectations here. Still interested in learning more about the regs for ongoing investigations if you have time to share!
- elliekelly 4y agoThe bit at 31 USC § 5318(g)(2)(A) under the title “Notification prohibited.” FinCEN has also promulgated confidentiality rules thereunder. I don’t have a pincite for that but I believe it’s tucked amongst their record keeping rules.
- theptip 4y agoThanks! For anyone following along, text at https://www.fincen.gov/resources/statutes-and-regulations/bank-secrecy-act https://www.fincen.gov/resources/statutes-and-regulations/ba... > https://www.govinfo.gov/content/pkg/USCODE-2020-title31/pdf/USCODE-2020-title31-subtitleIV-chap53-subchapII-sec5318.pdf https://www.govinfo.gov/content/pkg/USCODE-2020-title31/pdf/.... This is for SARs (Suspicious Activity Reports). (At least, that's the one I've encountered before, there may be other forms too).