The U.S. Treasury Department's Financial Crimes Enforcement Network is asking banks to stop putting legal disclaimers on suspicious activity report narratives because they are a burden for investigators. They can slow down analysts reading through documents in search of criminal activity, Candice Pratsch, a FinCEN spokeswoman said in an e-mail. "They are typically at the beginning of the narrative and the analysts need to read through them before getting to the relevant section," she said. FinCEN plans to issue a revised SAR reporting form within a few weeks that includes clearer instructions for completing the narrative section. The agency, in...
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