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How the FinCen Papers provide an opportunity to improve the Suspicious Activity Report (SARs) regime

How the FinCen Papers provide an opportunity to improve the Suspicious Activity Report (SARs) regime
Published on: 24 September 2020
Published by: LexisPSL
  • How the FinCen Papers provide an opportunity to improve the Suspicious Activity Report (SARs) regime
  • What are the FinCen Papers?
  • What are SARs?
  • What is the purpose of SARs?
  • What do the FinCen Papers tell us?
  • The problem with the SARs regime

Article summary

Corporate Crime analysis: The ‘FinCen Papers’ look set to become the next Panama Papers, where confidential information has been leaked, lifting the lid on the sheer scale of financial crime and money laundering. Gary Pons, barrister at 5SAH Chambers specialising in complex financial cases and recovery of the proceeds of crime, considers the publication of the FinCen Papers, containing over 2100 Suspicious Activity Reports (SARs) from the US Treasury Department’s Financial Crimes Enforcement Network (FinCen), the problems with the SARs regime it reveals and suggests that it might be an opportunity to improve the SARS regime. or take a trial to read the full analysis.

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