PRACTICAL SOLUTIONS
tionships with law enforcement and draw
on them. Partnerships with law enforcement can be a valuable asset to your
compliance team.
“Developing a great relationship with law
enforcement in your area is critical,” Gillum
said. “Every compliance office should have
a point of contact with law enforcement.
When faced with a situation you are unsure
of, call your contacts. You can bounce ideas
off of them and ask them what they think of
the situation.”
Compliance officers should build strong
relationships with both federal and local
law enforcement, says Sgt. Jim Cox, CAMS,
supervisor of the Special Investigations,
Narcotics and Money Laundering Unit of the
Fairfax County, Virginia, Police Department.
“I am a firm believer that you should have
both,” Cox said. “We get every SAR that
involves Fairfax County, but sometimes a
SAR won’t get to us until two years down
the road. By the time we get the SAR, we are
often already working the case from information we’ve received from the community.
Because we are a local law enforcement
agency we know the community and get
a lot of information from them. The SAR is
important and it adds to the case, but the
information from the community is also very
important. If a teller notices that a guy comes
in frequently and visits his safety deposit
box and then makes a large cash d