BSA FAQs 10 - There are frequently asked questions regarding Disclosure of SAR Documentation. The following discussion is contained in Section 6 of The SAR Activity Review – Trends, Tips & Issues (June 2001).

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Q:  There are frequently asked questions regarding Disclosure of SAR Documentation. The following discussion is contained in Section 6 of The SAR Activity Review – Trends, Tips & Issues (June 2001).
 
A:  Under the SAR regulations, institutions filing SARs should identify within the SAR, and are directed to maintain all "supporting documentation" related to the activity being reported. Disclosure of supporting documentation related to the activity that is being reported on a SAR does not require a subpoena, court order, or other judicial or administrative process. Under the SAR regulations, financial institutions are required to disclose supporting documentation to appropriate law enforcement agencies, or FinCEN, upon request. (6/2001)

 

ADDITIONAL INFORMATION:
This FAQ was obtained from FinCEN’s website, in the section for Answers to Frequently Asked BSA Questions, which may be found here: 

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