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Daniel P. Stipano quoted in ACAMS article, “FinCEN followed procedures in limiting access to SARs filed on Trump attorney”

ACAMS

Daniel P. Stipano

Daniel P. Stipano was quoted on July 26, 2018 in an ACAMS article, “FinCEN followed procedures in limiting access to SARs filed on Trump attorney,” which discussed the New Yorker’s claims that two FinCEN suspicious activity reports (SARs) filed on Michael Cohen, President Donald Trump’s personal attorney, had disappeared from a bureau-administered database. The article stated, “Prompted by senior Democratic lawmakers, the department’s Office of the Inspector General investigated whether FinCEN had indeed removed the SARs or followed already-established procedures for limiting access to them on the basis that the information they contained may imperil national security or law enforcement operations. The inspector general concluded in a quietly released memorandum late last month that the SARs ‘were not destroyed’ and that FinCEN had followed procedure when the bureau restricted access to them last year. The SAR suppression policy mostly exists for the benefit of law enforcement, though not all investigators with access to the database may understand how it works, a former FinCEN official told ACAMS moneylaundering.com.”

Stipano added, “I am personally familiar with situations where FinCEN has used this process where high-profile individuals were involved. They do it to ensure there isn’t a leak that could compromise a criminal investigation.”

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