Bank Secrecy ActRSS

OCC report highlights strategic risks from fintech, operational risk from third parties

Office of the Comptroller of the Currency

Strategic, credit, operational and compliance risks remain top concerns for the federal banking system, the US Office of the Comptroller of the Currency (OCC) reports in its Semiannual Risk Perspective for Spring 2017.

AML bill to create cross-border headaches for US prepaid

US prepaid consumers not happy

US senators Chuck Grassley (R-Iowa) and Dianne Feinstein (D-California) have introduced a bill that would include notable changes for prepaid card providers related to current Bank Secrecy Act (BSA) / anti-money laundering (AML) regulations, including defining prepaid access devices as monetary instruments. Paybefore (Banking Technology‘s sister publication) reports that the bill, (S 1241), the Combating Money Laundering, […]

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