Banks Get Clarity on Communicating with Customers Amid Suspicious Activity

Five federal financial regulators have clarified what banks can communicate to customers when suspicious activity is involved. The joint statement, issued on September 2, 2026, addresses a long-standing question in bank compliance.

The agencies involved include the Federal Reserve, the FDIC, the NCUA, the OCC, and FinCEN. They clarified that banks can discuss underlying facts, transactions, and documents upon which a Suspicious Activity Report (SAR) is based without violating confidentiality rules.

The key regulatory distinction is that communicating underlying facts does not constitute revealing the existence of a SAR itself.

Banks are now permitted to notify customers about potential fraud or suspicious activity, including account delays or closures. They can also warn customers about fraud schemes and typologies, such as money mule schemes.