This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties.  Members and Law enforcement use only. Contact us for any permissions.  To do otherwise will result in the loss of membership.

Complete Story
 

01/21/2021

Description: Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other AML Considerations

OCC Bulletin

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Financial Crimes Enforcement Network (FinCEN) today issued responses to frequently asked questions regarding suspicious activity reporting and other anti-money laundering (AML) considerations for financial institutions covered by suspicious activity reporting rules. The frequently asked questions were developed in response to recent Bank Secrecy Act Advisory Group recommendations.1 The answers to the frequently asked questions clarify the regulatory requirements related to suspicious activity reporting to assist covered financial institutions with their compliance obligations, while enabling financial institutions to focus resources on activities that produce the greatest value to law enforcement agencies and other government users of Bank Secrecy Act (BSA) reporting.

Read more...

Printer-Friendly Version


Resources

Alerts

The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.

more information
Resources

Resources

Your electronic library to help in fighting financial fraud for all of our partners.

more information