NCJ Number
117695
Date Published
1988
Length
41 pages
Annotation
The procedures by which financial institutions and regulatory agencies report suspected banking crimes to the Department of Justice for investigation and possible prosecution is described, with emphasis on the changes in the process in 1985-86.
Abstract
Criminal referrals historically account for the majority of criminal prosecutions involving financial institutions, and the majority of referrals come from the financial institutions. However, before 1985 the forms and filing procedures used by financial institutions were neither well established nor uniform. The new regulations or guidelines issues by all the regulatory agencies now require that financial institutions file such referrals and specify the forms to be used. Referrals from regulatory agencies typically occur after a bank examiner discovers a suspicious transaction or document. Agency referrals also result from evidence gathered in the course of administrative proceedings or investigations conducted by the agencies as part of the examination or enforcement processes and from investigations of insolvent institutions. The development of the uniform forms and procedures results from Congressional hearings in 1983 and 1984, a report critical of the existing system, and the formation of a working group in December 1984.