Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

FinCEN wants cyber-attack data in SARs

Joe Mont | November 4, 2016

The Financial Crimes Enforcement Network, the enforcement arm of the Treasury Department, has issued new guidance for financial institutions regarding cyber-events and cyber-enabled crime. The advisory, and an accompanying set of “frequently asked questions,” focus on the reporting of breaches and cyber-enabled crime through Suspicious Activity Reports.

The guidance is targeted to financial institutions, casinos, depository institutions, the insurance industry, money services businesses, mortgage broker, the precious metals and jewelry industry, and firms dealing in securities and futures.

The advisory does not change existing BSA requirements or other regulatory obligations for financial institutions. They should continue to follow federal and...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.