Despite over 20 years of Section 314 of the USA PATRIOT Act enabling financial institutions to share information to combat financial crime, adoption remains limited due to confusion, privacy concerns, and inconsistent interpretation. Section 314(a) mandates sharing between financial institutions and law enforcement, while Section 314(b) allows voluntary peer sharing focused on money laundering and terrorist financing. Barriers include varying internal policies, voluntary participation, and fear of breaching SAR confidentiality. Solution providers now offer encrypted platforms to support secure sharing. The report encourages integrating information sharing into AML programs with updated policies and supportive technology.

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