FinCEN Changes SAR Guidance in Wake of USDA Rules Update

FinCEN Changes SAR Guidance in Wake of USDA Rules Update

Posted on 12/03/2019 at 02:19 PM by David Gonzales

On December 3, 2019 the Financial Crimes Enforcement Network (FinCEN) updated previous guidance regarding Suspicious Activity Reports (SARs). Previously banks handling transactions for hemp growers were required to file SARs on all transactions from growers of hemp.

Now, in the wake of hemp’s removal from the list of Schedule I drugs under the federal Controlled Substances Act and USDA rules regulating the growing of hemp SARs will no longer need to be filed on hemp growers’ transactions.

You can read the text of the full FinCEN guidance here


Questions, Contact us today.

Contact Us


The material, whether written or oral (including videos) that is posted on the various blogs of Dickinson Bradshaw is not intended, nor should it be construed or relied upon, as legal advice. The opinions expressed in the various blog posting are those of the individual author, they may not reflect the opinions of the firm.  Your use of the Dickinson Bradshaw blog postings does NOT create an attorney-client relationship between you and Dickinson, Bradshaw, Fowler & Hagen, P.C. or any of its attorneys.  If specific legal information is needed, please retain and consult with an attorney of your own selection.

There are no comments yet.
Add Comment

* Indicates a required field