Yes, if your bank has filed a SAR, the SAR rules provide a safe harbor for any disclosures to law enforcement authorities related to a “possible violation.” The safe harbor protects your bank from liability under any state or federal law or regulation, and it applies to disclosures regarding both “suspected” and “known” crimes. As you already have filed a SAR, and you suspect criminal activity, this safe harbor should protect your bank from liability under state and federal financial privacy laws when reporting the activity to the police. 

For resources related to our guidance, please see below:

• FRB Suspicious Activity Reports Rules — 12 CFR 208.62(k) (safe harbor from liability for the disclosure of “reports of suspected or known criminal violations and suspicious activities to law enforcement and financial institution supervisory authorities, including supporting documentation, regardless of whether such reports are filed pursuant to this section or are filed on a voluntary basis”)