On June 12th, FinCEN issued updated guidance …to clarify how financial institutions can share information with each other about suspected fraud under section 314(b) of the USA PATRIOT Act. It clarified …that a financial institution may share information about activity involving suspected fraud, money laundering, terrorist financing, or other specified unlawful activities, and that it may share that information with any other financial institution eligible to participate in the section 314(b) program to identify illicit financial activity. A 314(b) Fact Sheet was also provided, which includes examples of the information that may be shared, as well as some questions and answers.
Kevin discussed this in more detail during the June AML/CFT Membership Group. Hear what he had to say:
Published 2026/07/01