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Cyber-Security, AML Deficiencies Flagged in OCC Risk Review

Joe Mont | June 30, 2015

As banks seek to close the profitability gap created by a lingering low-interest rate environment, and offer new products and services to customers, they face heightened operational and compliance risks. Cyber-security, anti-money laundering controls, and comprehensive new mortgage lending requirements are top concerns that examiners will be looking at in the year ahead, according to the Office of the Comptroller of the Currency’ in its latest “Semiannual Risk Perspective.”

Among the risks highlighted in the report:

  • Evolving cyber-threats and information technology vulnerabilities require heightened awareness and appropriate controls.
  • Against...
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