On September 2, 2026, the Federal Reserve, FDIC, FinCEN, NCUA and OCC issued a joint statement clarifying that SAR confidentiality generally does not stop banks from discussing suspected fraud or suspicious transactions with customers, including the subject of a SAR, and with other third parties. Banks may also tell customers that an account restriction or closure is related to suspected fraud, as long as they do not reveal that a SAR was or will be filed. The statement does not change Bank Secrecy Act (BSA) requirements and does not cover non-bank institutions such as money services businesses and casinos. Banks remain strictly prohibited from disclosing a SAR or information revealing it, and violations can bring civil and criminal penalties. The statement recommends case-by-case assessment and focusing communications on observations, concerns, policies or actions rather than on whether a SAR was filed.
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