Notifying law enforcement

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Question:

If a financial institution discovers a crime or fraud and wants to notify law enforcement, what if anything is needed before records/documents are turned over to help with the investigation?

Answer:

Follow the "tip" statute in the RFPA. Initially, only reveal the name, address, account number of the customer and a description of the suspected illegal activity. The government can get a subpoena or search warrant from there. Do not turn over actual records or more information until you have received a duly authorized subpoena or search warrant that complies with the RFPA..

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Learn more about Mary Beth Guard’s Dealing with Subpoenas webinar.