OCC Report Highlights Risks Facing National Banks and Federal Savings Associations

The OCC released a report which details important risks facing the banking industry. Notably, BSA and AML violations are cited as risks that "are on the rise as money laundering methods evolve, electronic bank fraud increases in volume and sophistication, and banks fail to evolve or incorporate appropriate controls into new products and services."

The report reflects data, as of December 31, 2012, presented in four main areas:

1. the operating environment;
2. condition and performance of the banking system;
3. funding, liquidity, and interest rate risk; and
4. regulatory actions.

See: OCC Semiannual Risk Perspective for Spring 2013.