Agencies Issue Statement and Request for Information on Bank Secrecy Act/Anti-Money Laundering Compliance

The federal banking agencies, in consultation with the Financial Crimes Enforcement Network and the National Credit Union Administration, today issued a joint statement addressing how risk management principles described in the “Supervisory Guidance on…

The federal banking agencies, in consultation with the Financial Crimes Enforcement Network and the National Credit Union Administration, today issued a joint statement addressing how risk management principles described in the "Supervisory Guidance on Model Risk Management" relate to systems or models used by banks to assist in complying with the requirements of Bank Secrecy Act (BSA) laws and regulations.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2021/nr-ia-2021-43.html