When Can Financial Records Be Subpoenaed in Federal Cases?

The federal government has extensive authority to subpoena financial records during both criminal and civil investigations. The FBI can request records during white-collar investigations, or an AUSA might request financial documents during grand jury proceedings. In many cases, prosecutors will continue subpoenaing financial records even after filing civil lawsuits or criminal charges.

If you received or expect to receive a federal subpoena for financial records in New Jersey, immediately contact white-collar defense lawyer Peter Katz. He has over 30 years of experience handling financial crimes, both as a defense attorney and a prosecutor. Confidentially discuss your rights with his financial crimes defense team today by calling (609) 849-3179 or contacting him online.

Scope of a Subpoena Duces Tecum

A subpoena for financial and related documentary evidence, known as a subpoena duces tecum, legally compels the person or entity subpoenaed to provide the requested documents to the extent permitted by law. Subpoenas for financial records are often overly broad and request privileged financial information.

You should always contact an experienced financial crimes attorney if you receive a request to produce this private evidence. Subpoenas for financial documents often indicate you or a close associate is under investigation for a federal white-collar crime, including:

• Bank fraud
• Wire fraud
• Money laundering
• Extortion
• Tax evasion
• Insider trading
• SEC violations

Failing to comply with a lawfully issued subpoena may result in significant criminal penalties, but it may also provide the government with direct evidence of an alleged offense. Always discuss your financial privacy and constitutional rights with an experienced federal criminal defense attorney after receiving any subpoena, including those issued in civil cases for money damages, rather than during criminal investigations.

Suppressing (Quashing) a Federal Subpoena for Financial Records

Federal prosecutors and law enforcement officials can generally subpoena financial records at any time. The standard for subpoenas is often referred to as “official curiosity,” and the government is not required to demonstrate probable cause. However, specific legal safeguards apply if you receive any federal subpoena. Dedicated defense lawyers might file a motion to quash a subpoena before you’re required to comply. This motion asks the court to either invalidate or limit the scope of the document. Grounds for quashing subpoenas for financial records include the following:

• Overly broad
• Irrelevant
• Lack of jurisdiction
• Unduly burdensome
• Failure of service
• Privilege

Additional protections also apply to certain financial documents covered by the Right to Financial Privacy Act (RFPA). The RFPA sets forth specific procedures that federal authorities in New Jersey must follow when requesting financial records, including the right of the account holder to be notified of any request and given the opportunity to object to its production.

Immediately Contact a NJ Federal Subpoena Response Attorney

Do not simply comply with a federal subpoena for financial records. Discuss the implications of providing the requested information and your rights and obligations under federal law with New Jersey financial crimes defense lawyer Peter Katz. He may be able to get your subpoena suppressed or modified, protecting you from disclosing private and potentially incriminating financial information. Discuss your case with his dedicated white-collar defense team today by calling (609) 849-3179 or scheduling a confidential consultation online.