Some SAR regulatory updates from NAFCU
Written by Bernadette Clair, Regulatory Compliance Counsel NAFCU
FinCEN recently announced the release of its 21st issue of the SAR Activity Review – Trends, Tips, & Issues. Most of the issue focuses on Money Services Businesses (MSBs) – and is a good read if your credit union provides services to MSBs.
However, I’d like to draw your attention to guidance FinCEN provides in this issue related to the time frame for filing SARs on continuing suspicious activity. The guidance is designed to address uncertainty over whether ongoing activity SARs should be filed every 90 days, or after 90 days of review....
http://feedproxy.google.com/~r/typepad/nafcucomplianceblog/nafcu_weblog/~3/4jpg4JYwloI/fincen-clarifies-timeframe-for-filing-sars-on-continuing-suspicious-activity.html
FinCEN recently announced the release of its 21st issue of the SAR Activity Review – Trends, Tips, & Issues. Most of the issue focuses on Money Services Businesses (MSBs) – and is a good read if your credit union provides services to MSBs.
However, I’d like to draw your attention to guidance FinCEN provides in this issue related to the time frame for filing SARs on continuing suspicious activity. The guidance is designed to address uncertainty over whether ongoing activity SARs should be filed every 90 days, or after 90 days of review....
http://feedproxy.google.com/~r/typepad/nafcucomplianceblog/nafcu_weblog/~3/4jpg4JYwloI/fincen-clarifies-timeframe-for-filing-sars-on-continuing-suspicious-activity.html
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