A grand jury subpoena has requested a picture of a person making a transaction at our teller line that is no longer in our records. Is there a requirement the bank is supposed to comply with for how long our camera records are retained?
Our recent examiner said we must work up a potential SAR report for summonses & subpoenas. Does this apply if the subpoena is on a former customer (currently closed)?
What is the minimum amount of identifying information that the issuer of the subpoena must supply to the bank in order for the bank to be legally able to release financial information? Is it a matter of bank policy or federal regulation?
If we receive subpoenas from municipal and government agencies, are we required to notify out customers that an agency is looking at their accounts?
If we receive subpoenas from municipal and government agencies, are we required to notify our customers that an agency is looking at their accounts?
SARs serve as leads for criminal and civil investigations. These leads often result in federal law enforcement agencies obtaining additional records by subpoena from financial institutions.
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Our bank made a loan to an individual who was using a stolen identity. What are the criminal requirements for reporting ID theft?
In an effort to improve the consistency and quality of information being reported in SARs, and to guide financial institutions on compliance with suspicious activity reporting requirements, FinCEN
The information FinCEN collects through reporting by financial institutions is highly valuable in combating terrorism and investigating money laundering and other financial crime.43 FinCEN processe