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Would use of the FinCrime system be in conflict with any aspects of the USA Patriot Act?

April 26, 2017ACT aspects conflict fincrime Patriot system USA

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Would use of the FinCrime system be in conflict with any aspects of the USA Patriot Act?

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Section 314(b) of the USA PATRIOT Act allows financial institutions to voluntarily share information with each other after first filing notice with FinCEN that they will participate in sharing. However, this voluntary sharing under the PATRIOT Act covers sharing of information related exclusively to terrorist financing and money laundering. Since FinCrime is a database primarily designed to share info related to check fraud, it’s unlikely that it will be impacted by the requirements of Section 314(b).