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Manhattan DA’s Office to Create FIU for SAR Review
By Brian Orsak
printThe New York County District Attorney's Office is creating a financial intelligence unit in an effort to expand its use of Bank Secrecy Act reports, the agency's highest official said Monday. The office will disclose the new unit "in just a couple of days," Manhattan District Attorney Cyrus Vance, Jr. told a New York conference of compliance officers. The group will review suspicious activity reports (SARs) and other financial filings submitted to the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN), he said. In the unit, "we will have specially trained analysts reading SARs every single day, tracing suspicious funds,...
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