FinCen Assesses Penalty for SAR Disclosure

The Financial Crimes Network (FinCEN) has assessed a $25,000 civil money penalty against a California bank employee for violating Bank Secrecy (BSA) prohibitions against disclosing suspicious activity reports ("SARs").

FinCEN determined that the employee violated the BSA by willfully disclosing the existence of a SAR to a person involved in the reported transaction.

Read more in the December 15, 2011 FinCEN announcement:  http://www.fincen.gov/news_room/nr/pdf/20111215.pdf