ITG FAQ #19 Answer-Can a financial institution notify any person involved in a suspicious transaction that the transaction has been reported? |
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Federal law (31 U.S.C. 5318(g)(2)) provides that a financial institution, and its directors, officers, employees, and agents, who, voluntarily by means of a suspicious activity report, report suspicious transactions to the government, may not notify any person involved in the transaction that the transaction has been reported.
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Page Last Reviewed or Updated: April 08, 2011