Sec. 6203. Law enforcement feedback on suspicious activity reports
323 words·~1 min read·
/bill/116/hr/6395/enr/section-6203·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
FinCEN shall, to the extent practicable, periodically solicit feedback from individuals designated under section 5318(h)(1)(B) of title 31, United States Code, by a variety of financial institutions representing a cross-section of the reporting industry to review the suspicious activity reports filed by those financial institutions and discuss trends in suspicious activity observed by FinCEN. FinCEN shall provide any feedback solicited under paragraph
(1)to the appropriate Federal functional regulator, State bank supervisor, or State credit union supervisor during the regularly scheduled examination of the applicable financial institution by the Federal functional regulator, State bank supervisor, or State credit union supervisor, as applicable. Except as provided in paragraph (2), FinCEN shall, to the extent practicable, periodically disclose to each financial institution, in summary form, information on suspicious activity reports filed that proved useful to Federal or State criminal or civil law enforcement agencies during the period since the most recent disclosure under this paragraph to the financial institution. Nothing in this paragraph may be construed to require the public disclosure of any information filed with the Department of the Treasury under the Bank Secrecy Act. FinCEN shall not be required to disclose to a financial institution any information under paragraph
(1)that relates to an ongoing or closed investigation or implicates the national security of the United States. With respect to the actions described in paragraph (1), FinCEN shall keep records of all such actions taken to assist with the production of the reports described in paragraph
(5)of section 5318(g) of title 31, United States Code, as added by section 6202 of this division, and for other purposes. The information disclosed by FinCEN under this subsection shall include information from the Department of Justice regarding— the review and use by the Department of suspicious activity reports filed by the applicable financial institution during the period since the most recent disclosure under this subsection; and any trends in suspicious activity observed by the Department.