Regulatory Alerts2005-04-05
Added
Statement of Interest filed by the United States in the case of Wuliger v. Office of the Comptroller of the Currency
The United States argues that Suspicious Activity Reports (SARs) and the fact of their filing are protected from unauthorized disclosure under the Bank Secrecy Act and implementing regulations. The filing asserts that financial institutions and government officials, including the Office of the Comptroller of the Currency, are prohibited from producing these reports in response to civil discovery requests. This confidentiality extends to all persons involved in the reported transaction and applies regardless of the utility of the information to a private litigant. The United States requests that the court protect these reports from unwarranted disclosure.
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