The Financial Crimes Enforcement Network proposed establishing a limited-duration pilot program for sharing suspicious activity reports, in accordance with Section 6212 of the Anti-Money Laundering Act of 2020.
Details: The pilot program would permit reporting financial institutions to share SARs and related information with their foreign branches, subsidiaries, and affiliates, subject to approval and conditions set by FinCEN.
Comments: FinCEN encouraged all interested parties to submit written comments by the March 28 comment deadline.