Get 314a

(SARs) Referencing 314(b) Narratives Either the information received was used to further its investigation, ultimately contributing to the filing of the SAR, or the receiving financial institution was unresponsive and the sending financial institution filed a SAR based on their own assessment of the activity.

USA PATRIOT Act Section 314(b) permits financial institutions, upon providing notice to the United States Department of the Treasury, to share information with one another in order to identify and report to the federal government activities that may involve money laundering or terrorist activity.

Section 314 helps law enforcement identify, disrupt, and prevent terrorist acts and money laundering activities by encouraging further cooperation among law enforcement, regulators, and financial institutions to share information regarding those suspected of being involved in terrorism or money laundering.

The USA PATRIOT Act requires risk identification, measurement, monitoring, controlling and reporting. Section 314(a) mandates information sharing between law enforcement agencies and financial institutions through the Financial Crimes Enforcement Network, or FinCEN.

FinCEN's regulations under Section 314(a) enable federal, state, local, and foreign (European Union) law enforcement agencies, through FinCEN, to reach out to more than 34,000 points of contact at more than 14,000 financial institutions to locate accounts and transactions of persons that may be involved in terrorism or ...

Section 314(a) process requires law enforcement to provide assurances that the request has been. subject to appropriate scrutiny at the agency level and that the matter under investigation satisfies. FinCEN's standards for processing a formal Section 314(a) request.