January 21, 2021 | Nicole Meisner
New Joint Regulatory FAQs Regarding Suspicious Activity Reporting and other AML Considerations
On January 19, 2021, several federal banking regulators including FinCEN, the Federal Reserve, the FDIC, NCUA, and the OCC jointly issued answers to several frequently asked questions (FAQs) regarding suspicious activity reports (SARs) and other anti-money laundering (AML) considerations for financial institutions covered by SAR rules. As used below, the term “financial institution” includes money …