Tag Archives: Bank Secrecy Act

Sharing Suspicions

Automated collaboration among financial institutions can help banks, and law enforcement, fight financial crime more efficiently and effectively.

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OCC to Issue ‘Best Practices’ Guidance on AML/BSA Risk Management

In response to the “derisking” trend in anti-money laundering and Bank Secrecy Act compliance, the OCC will soon issue guidance that articulates its expectations for banks to routinely evaluate risk in their foreign correspondent banking portfolios, Comptroller of the Currency Thomas Curry said today.

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ABA Rejects Proposal to Expand Money Laundering Risk Assessment

ABA today urged the Office of Management and Budget to reject the OCC’s proposed changes to its Bank Secrecy Act/Money Laundering Risk Assessment, or MLR, which evaluates the BSA/AML and OFAC sanctions risks associated with bank products as part of the agency’s BSA/AML/OFAC supervision program.

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