Snapshot:
On July 9, 2026, the OCC highlighted FinCEN’s updated Section 314(b) guidance, which clarifies that financial institutions may voluntarily share information about suspected fraud, in addition to traditional money laundering and terrorist financing activity, under the USA PATRIOT Act’s information-sharing safe harbor. The guidance also provides examples of fraud-related information that may be shared between eligible institutions to help identify and report illicit activity.
Why it Matters:
Fraud schemes increasingly span multiple institutions, making information sharing a critical tool for detecting repeat bad actors and emerging threats. The updated guidance reinforces opportunities for BSA/AML, fraud, and investigations teams to collaborate more effectively across the financial sector while operating within an established regulatory framework.
Official Sources:
OCC Bulletin 2026-30: FinCEN Guidance on Voluntary Information Sharing