Regulatory Alerts2025-09-30
Agency Information Collection Activities; Proposed Renewal: Comment Request: Renewal Without Change on Information Sharing Between Government Agencies and Financial Institutions
The Financial Crimes Enforcement Network seeks public comments on the proposed renewal without change of information collection requirements under the Bank Secrecy Act regarding information sharing between government agencies and financial institutions. These regulations, specifically the Section 314(a) Rule, require financial institutions to search their records for accounts or transactions involving individuals or entities suspected of terrorist activity or money laundering upon request from law enforcement. The agency estimates that approximately 575,873 financial institutions are affected by these reporting obligations, which must be renewed by December 1, 2025.
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