Beautiful Virgin Islands

Monday, Sep 15, 2025

FinCEN Clarifies How Banks Can Share Data on Suspicious Transactions

FinCEN Clarifies How Banks Can Share Data on Suspicious Transactions

The U.S.’s anti-money-laundering watchdog released new guidance Thursday on how financial institutions can share personally identifiable information about their customers if they believe it is tied to a suspicious transaction.
The guidance is meant to help clarify the limits to what officials have called a key tool in identifying potential instances of money laundering and terrorist financing, said Kenneth Blanco, the director of Treasury’s Financial Crimes Enforcement Network, during a conference Thursday on financial crime enforcement.

Banks in the U.S. were given the legal authority to share certain types of information with each other, regulators and law-enforcement authorities, by legislation passed in the aftermath of the 9/11 terrorist attacks.

The law, the 2001 Patriot Act, has encouraged some financial institutions to band together in recent years to more effectively identify suspicious transactions that could be tied to an illicit activity affecting U.S. national security.

Still, questions have lingered in the private sector on the legal limits to such information-sharing partnerships, causing them to be under-utilized, according to practitioners.

Mr. Blanco said he hoped the guidance, released in the form of a fact sheet, would put some of the questions around the private sector partnerships to rest and encourage more banks to participate.

“Many have been calling for clarity in this area for a long time,” Mr. Blanco said during a speech at the conference, which was hosted by the American Bankers Association and the American Bar Association. “I myself have been very vocal in getting clarity in this area.”

The Patriot Act allows information-sharing when banks specifically suspect a transaction is tied to money laundering or terrorist financing. What’s been less clear is whether it is legal for banks to share information when they suspect a transaction is related to other types of crimes.

FinCEN’s latest guidance encourages financial institutions to take a liberal view of the statute.

Banks can share information about other types of crimes when they suspect they may be tied in some way to terrorist acts or money laundering, according to the latest guidance. But they don’t need to conclusively determine that an activity is suspicious to share information.

“This clarification is significant and addresses some uncertainty with sharing incidents involving possible fraud, cybercrime and other serious predicate offenses when financial institutions suspect those offenses may involve terrorist acts or money-laundering activities,” Mr. Blanco said.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
Starmer Establishes Economic ‘Budget Board’ to Centralise Policy and Rebuild Business Trust
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Brazilian police say ex-President Bolsonaro had planned to flee to Argentina seeking asylum
Trinidad Leader Applauds U.S. Naval Strike and Advocates Forceful Action Against Traffickers
Kim Jong Un Oversees Final Test of New High-Thrust Solid-Fuel Rocket Engine
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Supreme Court temporarily allows Trump to pause billions in foreign aid
Charlie Sheen says his father, Martin Sheen, turned him in to the police: 'The greatest betrayal possible'
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
Pig Heads Left Outside Multiple Paris Mosques in Outrage-Inducing Acts
Nvidia’s ‘Wow’ Factor Is Fading. The AI chip giant used to beat Wall Street expectations for earnings by a substantial margin. That trajectory is coming down to earth.
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
On the Anniversary of Queen Elizabeth’s Death: Prince Harry Returns to Britain
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Murdoch Family Finalises $3.3 Billion Succession Pact, Ensuring Eldest Son’s Leadership
×