Browsing: Bank Secrecy Act

Compliance and Risk

By a bipartisan vote of 335 to 78 tonight, the House passed the National Defense Authorization Act for fiscal year 2021, a bill that includes several critical improvements to anti-money laundering rules. Among other things, the bill directs the Financial Crimes Enforcement Network to establish and maintain a national registry of beneficial ownership information that banks may in turn rely on when complying with customer due diligence requirements.

Newsbytes

The OCC today released its bank supervision operating plan for fiscal year 2021, identifying what each of the agency’s supervisory operating units will focus on for the new federal fiscal year that started Oct. 1.

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