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Federal examiners have uncovered "systemic breakdowns" at some banks in terms of how anti-money laundering (AML) compliance policies are drafted to address subpoenas and law enforcement inquiries, said Suzanne Williams, manager of compliance in the banking supervision and regulation division at the Federal Reserve. Some banks have failed to make the connection that certain requests merit filing suspicious activity reports (SARs), said Williams, during a panel at the 16th Annual International Anti-Money Laundering Conference in Hollywood, Fl last month. "If law enforcement is interested in your customers, you need to work that into your SAR processes," rather than simply just...