While information sharing under Section 314(b) of the USA PATRIOT Act is optional, it’s important that financial institutions who choose to participate give themselves “credit”. Regulators often point out just how valuable of a tool 314(b) information sharing can be. For instance, it can help mitigate an institution’s money laundering risk by uncovering activity that no single institution could detect on their own. That might include things such as multi-institution layering patterns, shared beneficiaries or transactors, coordinated cash structuring between institutions, etc. It can also help mitigate risks associated with fraud, terrorist financing, sanctions, high risk customers, etc. As such, institutions should be sure to address their 314(b) participation and the resulting risk mitigators in their risk assessment.
Kevin explains more in the video.
Published 2026/10/22