• The Seventh Circuit Applies Required Records Doctrine to Foreign Bank Account Records, Overriding Claim of Fifth Amendment Privilege
  • September 18, 2012 | Author: Edward Tanenbaum
  • Law Firm: Alston & Bird LLP - New York Office
  • In a recent decision, the Seventh Circuit Court of Appeals held that the Required Records Doctrine (RRD or the “doctrine”) compelled production of subpoenaed foreign bank account records, which were required to be maintained under the Bank Secrecy Act. The district court had quashed the subpoena, concluding that it would violate the Fifth Amendment privilege against self-incrimination. The government appealed, and the court of appeals reversed the lower court’s order.