A U.S. Secret Service Agent contacted one of our branch managers and inquired if "there was any fraudulent activity on the account of XXXXX during 2009". The manager advised that we do not release any information without a subpoena in compliance with the Federal Right To Financial Privacy Act. The agent then contacted the Compliance Officer and became somewhat indignant saying he didn't need financial information just "yes or no was there any fraudulent activity in 2009 on this particular account?" He was advised that we don't release any information without a customer authorization or a subpoena. Would this agent's inquiry qualify as an exempt situation? Were we too rigid by not providing an answer?

If I knew the agent and had a working relationship with him, I might let him know whether or not getting a subpoena would be worth his time.

He's trying to tie together a ring of fraudulent activity and something has led him to this account. More than likely, a subpoena would be worth his time.

Going back to 2009, I'd want to know a lot more about what "fraudulent activity" he was looking for. That is too broad, and if your FI didn't file a police report or SAR, then it didn't hit your radar. That's an open-ended question.

If I were calling an FI to ask for information or even just a "yes or no", I'd begin the conversation with as much information as I could divulge.

Also, without a working relationship with this agent, how do you know that he truly is an agent?

Sorry for the rambling sidestep of your question...

Thanks for your take on this Pup. I don't know the agent, but I checked out the Secret Service Website and verified the telephone number. I called that number and left a voice-message for this particular agent and he then return the call to me as Compliance Officer. I would like to cooperate but he offered no details other than identifying the account owner and account number and did not intimate how this account was tied to his investigation. Another question I had was why he called a branch office (with a recently transferred manager) rather than the Main Office where this particular account is assigned.

Most likely, the transaction that is on his radar occured at the particular branch location, or it is a branch location that he is familiar with.

Also, if he googled your FI, he may have just called the first branch number he could find, knowing that he would get a warm body there rather than a lengthy automated system.

By your description, I would require a subpoena.

One caveat.....do you have a loss on which you filed a police report? If so, you've got a lot more latitude.