On June 12, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued updated guidance to encourage financial institutions to use Section 314(b) of the USA PATRIOT Act to engage in information sharing to combat fraud and other financial crimes, including money laundering, terrorist financing, and sanctions evasion. The guidance frames information sharing as a fraud-prevention tool, emphasizing the U.S. Treasury’s view that financial institutions often see suspicious activity in real time and need the ability to share information quickly to stop fraud before it spreads. According to FinCEN, shareable information includes video surveillance footage, cyber-related data such as IP addresses, and fraud indicators such as newly added payees followed by large transfers, multiple accounts with similar identifying information, and logins from geographically distant locations. In addition to combatting fraud and other financial crimes, FinCEN indicates that information sharing advances national and economic security, and supports a more risk-based, outcomes-focused anti-money laundering/countering the financing of terrorism (AML/CFT) regime that will enable institutions to direct their resources toward higher-risk customers and activities.
FinCEN’s Section 314(b) Fact Sheet, which expands upon and replaces the fact sheet issued in December 2020, clarifies three points: real-time sharing is permitted, fraud-related information can be shared in appropriate circumstances, and information may be shared through flexible methods. The fact sheet emphasizes that section 314(b) participation is voluntary but provides a safe harbor for eligible financial institutions to share information to identify and, where appropriate, report activity that may involve money laundering or terrorist activity. It also confirms that fraud offenses are specified unlawful activities under section 314(b), and a financial institution need not identify specific fraud proceeds before sharing information if it suspects possible terrorist or money laundering activity involving fraud. The fact sheet further clarifies that the Bank Secrecy Act (BSA) does not limit the sharing of personally identifiable information under the section 314(b) safe harbor and that sharing may occur verbally, in writing, through electronic platforms, or in real time. While section 314(b) requires institutions to maintain the security and confidentiality of all information they share, the information may only be used for specified purposes and cannot include suspicious activity reports (SARs) or reveal their existence.
U.S. Department of Treasury Press Release | Section 314(b) Fact Sheet