Regulators Clarify Bank Communications on Fraud Suspicions and Suspicious Activity Reports

Five federal agencies issued a joint statement on Sept. 2, 2026, explaining that Suspicious Activity Report confidentiality generally does not bar banks, savings associations, foreign banks operating in the U.S., and credit unions from discussing suspected fraud or suspicious transactions with customers and third parties. Banks may also tell customers that an account restriction or closure is tied to suspected fraud or suspicious activity, as long as they do not disclose that a SAR was or will be filed. The agencies said the guidance clarifies existing Bank Secrecy Act requirements and responds in part to concerns about customer engagement and fair access to financial services under Executive Order 14331.

The joint statement came from the Federal Reserve, FDIC, FinCEN, NCUA and OCC on Sept. 2, 2026. It applies to banks, savings associations, U.S. operations of foreign banks, and credit unions. Officials said it restates existing Bank Secrecy Act rules rather than creating new supervisory expectations, and it responds partly to Executive Order 14331 on fair banking access.

The guidance does not cover non-bank institutions with their own SAR confidentiality duties, such as money services businesses and casinos. Banks may discuss transaction dates, amounts and parties, and may link account restrictions or closures to suspected fraud, provided they never reveal that a report was or will be filed.