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
Article originally appeared on Banking Spectrum (https://www.bankingspectrum.com/).
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