Yes, we believe that the disclosure of a suspicious activity report (SAR) to your bank’s counsel would be an authorized disclosure. As an agent of the bank, the attorney may review the SAR without violating the SAR confidentiality rule. (We previously have confirmed this interpretation with a FinCEN attorney.) In fact, a FinCEN publication suggests consulting with your organization’s counsel when determining whether to close an account based on suspicious activities.

For resources related to our guidance, please see:

• FinCEN Regulations, 31 CFR 1020.320(e)(1)(ii)(B) (The prohibition on disclosing SARs does not apply to “the sharing by a bank, or any director, officer, employee, or agent of the bank, of a SAR, or any information that would reveal the existence of a SAR, within the bank’s corporate organizational structure for purposes consistent with Title II of the Bank Secrecy Act as determined by regulation or in guidance.”)

• SAR Activity Review, October 2000 (printed page 27) (“The closure of a customer account as the result of the identification of suspicious activity is a determination for an organization to make in light of the information available to the organization. . . . It may be advisable to include the organization’s counsel, as well as other senior staff, in such determinations.”)