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Manage Information Requests to Help Your Institution Avoid Risk
By Rachael Lee Coleman
printFinancial institutions don't always know how to respond to law enforcement information requests concerning customers, transactions and accounts. New York State Police investigator Kevin Sullivan, who works on a joint federal and state task force that reviews suspicious activity reports (SARs) for criminal activity, spends a few days every month teaching compliance officers how long they must retain SAR supporting documents and when they need to turn over the documents to authorities. "When they're not well-versed about these document requests, I have to explain the process and keep going over their heads until I find somebody who gets it," Sullivan...
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