Which section enables financial institutions to share information about suspected money launderers and terrorists among themselves (voluntary program)?

• A. Section 326
• B. ACAMS
• C. OFAC
• D. Section 314b

Answer: (D)

The key idea is a voluntary information-sharing framework that helps financial institutions combat money laundering and terrorist financing by pooling information on suspected actors. Section 314(b) of the USA PATRIOT Act creates a voluntary program—through FinCEN—that lets banks and other financial institutions share information about known or suspected money launderers and terrorists with other institutions and with law enforcement. The aim is to identify networks that span multiple institutions and jurisdictions so investigations can be coordinated and risks mitigated. Participation is voluntary, and there’s a safe harbor from liability for sharing information in good faith under the program’s rules. This mechanism is distinct from things like customer identification requirements (which focus on verifying identity), sanctions programs, or professional AML organizations, which is why it’s the best fit for this question.