source:
  type: regulation
  id: bsa-31cfr-1010.540
  authority: 31 CFR Part 1010 — BSA General Provisions (FinCEN) § 1010.540 — Voluntary information sharing among
    financial institutions
  description: '31 CFR Part 1010 — BSA General Provisions (FinCEN), §1010.540 Voluntary information sharing among
    financial institutions. Captured section-complete (all subsections verbatim).

    '
obligations:
- id: bsa-31cfr-1010.540-a
  canonical_id: bsa-31cfr-1010.540-a
  section: 31 CFR §1010.540(a)
  description: 'Voluntary information sharing among financial institutions — (a): (a) Definitions. For purposes
    of this section: (1) Financial institution. (i) Except as provided in paragraph (a)(1)(ii) of this section,
    the term &#x201C;financial institution&#x201D; means any financial institution described in 31 U.S.C. 5312(a)(2)
    that is required under this chapter to establish …'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 31 CFR Part 1010 — BSA General Provisions (FinCEN) § 1010.540
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-31/subtitle-B/chapter-X/part-1010
    snapshot_id: 0a27edc17b8b277d
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:df40a10825d946456aef7bd04aa63dee60393dda8d124fc93d335066b2b81e36
    paragraph_quote: '(a) Definitions. For purposes of this section: (1) Financial institution. (i) Except as provided
      in paragraph (a)(1)(ii) of this section, the term &#x201C;financial institution&#x201D; means any financial
      institution described in 31 U.S.C. 5312(a)(2) that is required under this chapter to establish and maintain
      an anti-money laundering program, or is treated under this chapter as having satisfied the requirements of
      31 U.S.C. 5318(h)(1). (ii) For purposes of this section, a financial institution shall not mean any institution
      included within a class of financial institutions that FinCEN has designated as ineligible to share information
      under this section. (2) Association of financial institutions means a group or organization the membership
      of which is comprised entirely of financial institutions as defined in paragraph (a)(1) of this section.'
    drafter_attestation: Verbatim (whitespace-normalized) slice of §1010.540 subsection (a) from snapshot 0a27edc17b8b277d;
      substring-verified.
  judgment: false
- id: bsa-31cfr-1010.540-b
  canonical_id: bsa-31cfr-1010.540-b
  section: 31 CFR §1010.540(b)
  description: 'Voluntary information sharing among financial institutions — (b): (b) Voluntary information sharing
    among financial institutions &#x2014;(1) In general. Subject to paragraphs (b)(2), (b)(3), and (b)(4) of this
    section, a financial institution or an association of financial institutions may, under the protection of the
    safe harbor from liability described in paragr…'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 31 CFR Part 1010 — BSA General Provisions (FinCEN) § 1010.540
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-31/subtitle-B/chapter-X/part-1010
    snapshot_id: 0a27edc17b8b277d
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:df40a10825d946456aef7bd04aa63dee60393dda8d124fc93d335066b2b81e36
    paragraph_quote: '(b) Voluntary information sharing among financial institutions &#x2014;(1) In general. Subject
      to paragraphs (b)(2), (b)(3), and (b)(4) of this section, a financial institution or an association of financial
      institutions may, under the protection of the safe harbor from liability described in paragraph (b)(5) of
      this section, transmit, receive, or otherwise share information with any other financial institution or association
      of financial institutions regarding individuals, entities, organizations, and countries for purposes of identifying
      and, where appropriate, reporting activities that the financial institution or association suspects may involve
      possible terrorist activity or money laundering. (2) Notice requirement. A financial institution or association
      of financial institutions that intends to share information as described in paragraph (b)(1) of this section
      shall submit to FinCEN a notice described on FinCEN''s Internet Web site, http://www.fincen.gov. Each notice
      provided pursuant to this paragraph (b)(2) shall be effective for the one year period beginning on the date
      of the notice. In order to continue to engage in the sharing of information after the end of the one year
      period, a financial institution or association of financial institutions must submit a new notice. Completed
      notices may be submitted to FinCEN by accessing FinCEN''s Internet Web site, http://www.fincen.gov., and entering
      the appropriate information as directed, or, if a financial institution does not have Internet access, by
      mail to: FinCEN, P.O. Box 39, Vienna, VA 22183. (3) Verification requirement. Prior to sharing information
      as described in paragraph (b)(1) of this section, a financial institution or an association of financial institutions
      must take reasonable steps to verify that the other financial institution or association of financial institutions
      with which it intends to share information has submitted to FinCEN the notice required by paragraph (b)(2)
      of this section. A financial institution or an association of financial institutions may satisfy this paragraph
      (b)(3) by confirming that the other financial institution or association of financial institutions appears
      on a list that FinCEN will periodically make available to financial institutions or associations of financial
      institutions that have filed a notice with it, or by confirming directly with the other financial institution
      or association of financial institutions that the requisite notice has been filed. (4) Use and security of
      information. (i) Information received by a financial institution or an association of financial institutions
      pursuant to this section shall not be used for any purpose other than: (A) Identifying and, where appropriate,
      reporting on money laundering or terrorist activities; (B) Determining whether to establish or maintain an
      account, or to engage in a transaction; or (C) Assisting the financial institution in complying with any requirement
      of this chapter. (ii) Each financial institution or association of financial institutions that engages in
      the sharing of information pursuant to this section shall maintain adequate procedures to protect the security
      and confidentiality of such information. The requirements of this paragraph (b)(4)(ii) shall be deemed satisfied
      to the extent that a financial institution applies to such information procedures that the institution has
      established to satisfy the requirements of section 501 of the Gramm-Leach-Bliley Act (15 U.S.C. 6801), and
      applicable regulations issued thereunder, with regard to the protection of its customers'' nonpublic personal
      information. (5) Safe harbor from certain liability &#x2014;(i) In general. A financial institution or association
      of financial institutions that shares information pursuant to paragraph (b) of this section shall be protected
      from liability for such sharing, or for any failure to provide notice of such sharing, to an individual, entity,
      or organization that is identified in such sharing, to the full extent provided in subsection 314(b) of Public
      Law 107-56. (ii) Limitation. Paragraph (b)(5)(i) of this section shall not apply to a financial institution
      or association of financial institutions to the extent such institution or association fails to comply with
      paragraphs (b)(2), (b)(3), or (b)(4) of this section.'
    drafter_attestation: Verbatim (whitespace-normalized) slice of §1010.540 subsection (b) from snapshot 0a27edc17b8b277d;
      substring-verified.
  judgment: false
- id: bsa-31cfr-1010.540-c
  canonical_id: bsa-31cfr-1010.540-c
  section: 31 CFR §1010.540(c)
  description: 'Voluntary information sharing among financial institutions — (c): (c) Information sharing between
    financial institutions and the Federal Government. If, as a result of information shared pursuant to this section,
    a financial institution knows, suspects, or has reason to suspect that an individual, entity, or organization
    is involved in, or may be involved in terro…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 31 CFR Part 1010 — BSA General Provisions (FinCEN) § 1010.540
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-31/subtitle-B/chapter-X/part-1010
    snapshot_id: 0a27edc17b8b277d
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:df40a10825d946456aef7bd04aa63dee60393dda8d124fc93d335066b2b81e36
    paragraph_quote: (c) Information sharing between financial institutions and the Federal Government. If, as a
      result of information shared pursuant to this section, a financial institution knows, suspects, or has reason
      to suspect that an individual, entity, or organization is involved in, or may be involved in terrorist activity
      or money laundering, and such institution is subject to a suspicious activity reporting requirement under
      this chapter or other applicable regulations, the institution shall file a Suspicious Activity Report in accordance
      with those regulations. In situations involving violations requiring immediate attention, such as when a reportable
      violation involves terrorist activity or is ongoing, the financial institution shall immediately notify, by
      telephone, an appropriate law enforcement authority and financial institution supervisory authorities in addition
      to filing timely a Suspicious Activity Report. A financial institution that is not subject to a suspicious
      activity reporting requirement is not required to file a Suspicious Activity Report or otherwise to notify
      law enforcement of suspicious activity that is detected as a result of information shared pursuant to this
      section. Such a financial institution is encouraged, however, to voluntarily report such activity to FinCEN.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §1010.540 subsection (c) from snapshot 0a27edc17b8b277d;
      substring-verified.
  judgment: false
- id: bsa-31cfr-1010.540-d
  canonical_id: bsa-31cfr-1010.540-d
  section: 31 CFR §1010.540(d)
  description: 'Voluntary information sharing among financial institutions — (d): (d) No effect on financial institution
    reporting obligations. Nothing in this subpart affects the obligation of a financial institution to file a Suspicious
    Activity Report pursuant to this chapter or any other applicable regulations, or to otherwise contact directly
    a Federal agency concerning indi…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 31 CFR Part 1010 — BSA General Provisions (FinCEN) § 1010.540
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-31/subtitle-B/chapter-X/part-1010
    snapshot_id: 0a27edc17b8b277d
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:df40a10825d946456aef7bd04aa63dee60393dda8d124fc93d335066b2b81e36
    paragraph_quote: (d) No effect on financial institution reporting obligations. Nothing in this subpart affects
      the obligation of a financial institution to file a Suspicious Activity Report pursuant to this chapter or
      any other applicable regulations, or to otherwise contact directly a Federal agency concerning individuals
      or entities suspected of engaging in terrorist activity or money laundering.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §1010.540 subsection (d) from snapshot 0a27edc17b8b277d;
      substring-verified.
  judgment: false
