Seeking Their Cooperation, Manhattan D.A. Tells Bankers They Aren’t “Targets” for Prosecution

By Kieran Beer and Brian Monroe

The Manhattan District Attorney's Office has launched an initiative to review regulatory suspicious activity reports in tandem with a broad outreach to banks, the agency's top official said Tuesday. The office's Major Economics Crimes division created the team to evaluate the reports, known as SARs, and communicate with banks when the reports "are put to good use," Manhattan District Attorney Cyrus R. Vance, Jr. told financial industry executives at a symposium Tuesday hosted by the New York Federal Reserve Bank. The effort is meant to create an "environment of trust and cooperation" between banks and the agency, said Vance, who...