Sources Say Cohen Financial Records Not Missing, Just Restricted


Records pertaining to the financial activities of President Trump’s lawyer Michael Cohen are not missing from a government database; rather Treasury Department officials have taken the highly unusual step of restricting access to them even from certain law enforcement agencies, according to three sources familiar with the matter.

The New Yorker magazine this week reported that a law enforcement official — worried the information about Cohen’s banking records had been removed from government databases and therefore might be covered up — had admitted to leaking some of what was still accessible.

The information that was leaked, showed that Cohen, through a shell company, had received payments from several firms with business before the Trump administration, including telecom giant AT&T. The revelations set off a firestorm in Washington and were followed by the departures of officials from their jobs at AT&T and Novartis. The Treasury Department’s Inspector General has launched a probe into the leak.

The New Yorker quoted an unnamed law enforcement official saying they were motivated to leak the information because they had tried to access financial information about Cohen from the Financial Crimes Enforcement Network database, which includes suspicious activity reports, or SARs, from banks. By law, banks must file suspicious activity reports when they spot transactions that bear hallmarks of money laundering or other financial misconduct. Such reports can support investigations and intelligence gathering — but by themselves they are not evidence of a crime

The database is maintained by the Treasury Department, but, through various memorandums of understanding, many law enforcement agencies including the Drug Enforcement Administration, the FBI, and the IRS, have access to it.

The law enforcement official told the New Yorker they could only access one SAR related to Cohen, but knew that two more should have been available.

“I have never seen something pulled off the system,” the official told the New Yorker. “I immediately became concerned.” The official added: “That’s why I came forward.”

But three sources familiar with the matter said that access to Cohen’s SARs has merely been limited, not removed. They added that limiting access is rare and must have come from the top of the Treasury Department.

In a statement, a New Yorker spokesman noted that the story had reported that FinCEN can restrict access to information “deemed highly sensitive” and that the agency may have restricted access to the documents because they relate to ongoing investigations.

In a public statement, FinCEN did not acknowledge Cohen specifically, but did say that FinCEN “will limit access to certain SARs when requested by law enforcement authorities in connection with an ongoing investigation.”

Special Counsel Robert Mueller is investigating Russian interference in the 2016 election and the Southern District of New York is investigating Cohen.

Steven Perlberg contributed reporting.

CORRECTION By law, banks must file suspicious activity reports when they spot transactions that bear hallmarks of money laundering or other financial misconduct. An earlier version of this story imprecisely described the requirements for banks to flag suspicious transactions.


Like it? Share with your friends!

What's Your Reaction?

fun fun
2
fun
lol lol
0
lol
omg omg
5
omg
love love
6
love
geeky geeky
2
geeky
DiggiMania

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format