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Jan 7, 2020

Excellent post. Cost to service the 2019 LE requests was > $1m though, substantially beyond the work of one paralegal. One other thing to mention is that people who receive these requests should authenticate them through a second channel before producing.

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Jesse Powell

@jespow

Replying to

@prestonjbyrne

Several things contribute to the cost. Older business with 8+ years of data, millions of accounts, high security around accessibility of personal data, the good stuff is all encrypted and hard/slow/impossible to search/export in bulk (upside being its that way for hackers too).

6:16 AM · Jan 7, 2020Twitter for iPhone

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Jesse Powell

@jespow

Jan 7, 2020

Sure thing. Another issue is that requests are handled in high wage markets rather than exported/outsourced to low wage markets. It could probably be 1/10 the price if we eliminated all concern for security/privacy.

Replying to

and

These are all good reasons a competent compliance counsel would bring up with g-men. Back when I did this at a $1T AUM fund manager, we had regular calls with our contacts at regulators and LE to manage expectations and workflow. Keep it professional, but never bend over.