Tag Archives: anti-money laundering

ABA Shares Reg Relief Ideas in Final EGRPRA Letter

ABA today filed its fourth and final comment letter in response to the decennial EGRPRA regulatory burden review that the federal banking agencies must conduct. The letter addressed several issues that ABA identified through collaboration with banks of all sizes and from across the country.

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Curry: OCC Considering Guidance on De-risking

The OCC is taking a closer look at how banks make decisions to terminate business or correspondent relationships to avoid regulatory scrutiny—a process known as “de-risking”—and could issue guidance in the future based on its findings, Comptroller of the Currency Thomas Curry said today.

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Participation in MLRS Proposed for All OCC-Supervised Banks

The OCC is seeking comments on proposed changes to its Bank Secrecy Act/Money Laundering Risk Assessment, or MLRS, which evaluates the BSA/AML and OFAC sanctions risks associated with bank products and serves as an important tool for the OCC's BSA/AML/OFAC supervision program.

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FinCEN Proposes Tweaks to CTR Filings

The Financial Crimes Enforcement Network is proposing changes to the Currency Transaction Reports banks file under the Bank Secrecy Act to reflect better the ways that institutions use CTRs.

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Rep. Pittenger Raps FinCEN for Short Comment Period

Rep. Robert Pittenger (R-N.C.), the vice chairman of the House Financial Services Committee’s Task Force to Investigate Terrorism Financing, today took the Financial Crimes Enforcement Network to task over a too-short comment period on regulatory analyses for its customer due diligence rulemaking.

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FinCEN Updates List of AML/CFT Jurisdictions

The Financial Crimes Enforcement Network today released a revised list of the jurisdictions that are subject to countermeasures or enhanced due diligence due to anti-money laundering and counter-terrorist financing deficiencies (Section I), as well as jurisdictions with AML/CFT deficiencies that are working to correct them (Section II).

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