The FFIEC’s BSA/AML Manual section on “Special Information Sharing Procedures to Deter Money Laundering and Terrorist Activity” instructs examiners in assessing a financial institution’s compliance with Section 314 of the USA PATRIOT Act. This includes Sections 314(a) [Information Sharing Between Government Agencies and Financial Institutions] and 314(b) [Voluntary Information Sharing Among Financial Institutions].
At a minimum, an institution’s 314(a) and 314(b) policies and procedures should address the following, as applicable:
314(a)
- A designated point of contact for receiving information requests.
- The confidentiality/safeguarding of requested information.
- Responding to FinCEN 314(a) requests.
- If and when a SAR should be filed.
- The records to be searched.
- Any agreement or procedures to ensure confidentiality if a third-party vendor performs or facilitates 314(a) searches.
- Documentation to evidence compliance.
314(b)
- A designated point of contact for receiving and providing information.
- The confidentiality/safeguarding of information received/requested.
- Establishing a process for sending and responding to 314(b) requests, including that other parties with whom the financial institution intends to share (including affiliates) have filed the proper notice.
- If and when a SAR should be filed.
Published 2026/11/09