The Federal Reserve Board, the FDIC, FinCEN, the NCUA and the OCC reminded banks to apply a risk-based approach when assessing customer relationships and conducting customer due diligence on anti-money laundering risks.
News & Insights
The FDIC and FinCEN opened the registration period for interested individuals to participate in the "Tech Sprint Program" to help measure the effectiveness of digital identity proofing.
The FDIC and FinCEN will open registration for interested individuals to participate in a "Tech Sprint Program" to focus on developing solutions "for financial institutions and regulators to help measure the effectiveness of digital identity proofing."
FinCEN issued the first government-wide list of priorities concerning anti-money laundering and counter-terrorism financing policy.
In a joint statement, the Federal Reserve Board, the FDIC and the OCC, in consultation with FinCEN and the National Credit Union Administration, described how the agencies' "Supervisory Guidance on Model Risk Management" relates to Bank Secrecy Act / Anti-Money Laundering systems.