BSA FAQs 11 - There are frequently asked questions regarding the Applicability of Safe Harbor. 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 the Applicability of Safe Harbor. The following discussion is contained in Section 6 of The SAR Activity Review – Trends, Tips & Issues (June 2001).
 
A:  The safe harbor provisions applicable to SAR filings provide a safe harbor for organizations that provide a SAR to all authorized government personnel, including Federal, state, and local authorities. Similarly, the safe harbor provisions apply even if the report of activity that is a possible violation of law or regulation is made orally or in some form other than through the use of a SAR. (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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