{"id":392,"date":"2006-01-20T00:00:00","date_gmt":"2006-01-20T00:00:00","guid":{"rendered":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/2006\/01\/20\/bank-secrecy-act-sharing-suspicious-activity-reports-with-controlling-companies\/"},"modified":"2021-12-30T11:37:12","modified_gmt":"2021-12-30T11:37:12","slug":"bank-secrecy-act-sharing-suspicious-activity-reports-with-controlling-companies","status":"publish","type":"post","link":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/2006\/01\/20\/bank-secrecy-act-sharing-suspicious-activity-reports-with-controlling-companies\/","title":{"rendered":"BANK SECRECY ACT Sharing Suspicious Activity Reports With Controlling Companies"},"content":{"rendered":"<p>The Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies (FDIC, FINCEN, OCC, OTS) are providing guidance to confirm that sharing a Suspicious Activities Reports (SAR) with a controlling company in accordance with specified procedures is acceptable.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* A controlling company includes a bank or savings association holding company, or a company having the power directly or indirectly to direct the management or policies of an industrial loan company or a parent company, or to vote 25 percent or more of any class of voting shares of an industrial loan company or a parent company.<\/p>\n<p>* Sharing a SAR within an organization is allowable for the head office, or for the controlling entity or party to discharge its oversight responsibilities with respect to enterprise-wide risk management and compliance with applicable laws and regulations.<\/p>\n<p>* Accordingly, a bank or savings association (depository institution) may disclose a SAR to its controlling company(ies), whether domestic or foreign; and a U.S. branch or agency of a foreign bank may disclose a SAR to its head office outside the United States.<\/p>\n<p>* Depository institutions, as part of their anti-money laundering program, must have written confidentiality agreements or arrangements, and proper internal controls in place to protect the confidentiality of the SAR.<\/p>\n<p>http:\/\/www.bankinfosecurity.com\/regulations.php?reg_id=140&#038;PHPSESSID=dc6f96a8b3806f79be541fd18aa9c5a7<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,12],"tags":[],"class_list":["post-392","post","type-post","status-publish","format-standard","hentry","category-financial","category-regulations"],"_links":{"self":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=392"}],"version-history":[{"count":1,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/392\/revisions"}],"predecessor-version":[{"id":2879,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/392\/revisions\/2879"}],"wp:attachment":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}