Updated: July 2016
One of the best defenses that an institution has against illegal activities that span multiple institutions is collaboration. Simply reaching out to other institutions to collaborate and to share information can make a huge impact.
Section 314(b) of the USA PATRIOT Act permits financial institutions to share information with one another. When institutions work together, they can learn more about their customers’ activity across institutions, they can uncover more suspicious activity, and in the end, they can prevent more losses for their institution.
This informative eBook outlines and simplifies everything you need to know about collaboration, including:
- Section 314(b) of the USA PATRIOT Act
- Signing up to collaborate (who, how, why)
- Benefits of collaboration
- Hear from peers about their collaboration experiences
- Preparation (policies and procedures)
- Tips on what to include in your initial request for information
- Information sharing checklist