FinCEN proposal would let U.S. banks share SARs with its foreign branches

FinCEN proposal would let U.S. banks share SARs with its foreign branches

January 25, 2022, Banking Dive

Nikhil Gore was quoted in Banking Dive about FinCEN’s proposal that would let U.S. banks share suspicious activity reports with their own foreign branches, subsidiaries and affiliates under a pilot program meant to strengthen efforts against illicit finance. According to Nikhil, the lack of a safe harbor “may drive down participation in the program.”

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