Grand Jury Subpoena and Disclosing SAR Info

Question:

If subpoenaed for a Grand Jury, can a bank disclose the existence of or any information related to a SAR (asked by the AUSA in front of the grand jury)?

Answer:

A grand jury is an arm of law enforcement managed by the AUSA who is also part of law enforcement. The revised SAR regulation makes it clear that SARs can be disclosed to law enforcement.

If you take web site advice rather than discussing this with your attorney before you go into the grand jury room you're a bearcat for nerve.

First published on BankersOnline.com 5/14/12