Regulatory Alerts2009-10-14 | FinCEN Advisory – FIN-2009-A006Added
Advisory to Financial Institutions on Filing Suspicious Activity Reports Regarding TARP-related Programs
Financial institutions are requested to check the appropriate box on Suspicious Activity Reports to indicate the type of suspicious activity and include the term SIGTARP in the narrative portion when reporting activity related to Troubled Asset Relief Program initiatives. The advisory requires that the Suspect/Subject Information Section of these reports include all available identifying information for each party suspected of engaging in the suspicious activity. Additionally, institutions are advised to utilize Customer Identification Programs and Anti-Money Laundering Programs to identify customers qualifying for TARP funding and detect potential fraud, money laundering, or insider trading associated with these programs.
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