The Board of Governors of the Federal Reserve System, FDIC, National Credit Union Administration, Office of the Comptroller of the Currency and U.S. Treasury Financial Crimes Enforcement Network issued guidance on applying customer identification program requirements to prepaid cards issued by banks.
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The Office of the Comptroller of the Currency identified supervisory priorities in an FY 2017 Operating Plan for Bank Supervision.
The Financial Crimes Enforcement Network issued an advisory to financial institutions on Bank Secrecy Act reporting obligations concerning cyber events and cyber-enabled crime.
The Financial Crimes Enforcement Network assessed a $500,000 civil money penalty against New York-based credit union for violations of anti-money laundering regulations.
The Office of the Comptroller of the Currency ("OCC") examined risks facing national banks and federal savings associations. In its Semiannual Risk Perspective for Fall 2016, the OCC concluded that high compliance risk continues for these institutions.