masaccio commented on the blog post Ignore those Suspicious Activity Reports
I know of several other cases where disclosure of a SAR would be relevant on the issue of actual knowledge.
The banks explain that they don’t really know anything, and this is really confidential and could hurt their clients and their relationships with clients if they make disclosure. Instead, they use the information they develop to make more money or to protect themselves from loss.
The ability to hide actual knowledge is priceless.
