OCC crafts guidance on correspondent banking risk
The Office of the Comptroller of the Currency has issued risk management guidance that addresses periodic reevaluations of the risks associated with foreign correspondent banking accounts. More from Joe Mont.
Related articles
-
Blog
Quantexa and Arachnys partner in fight against financial crime
Big Data specialist Quantexa is partnering with Arachnys in the fight against financial crime. Both technology providers will be harnessing the power of each other’s respective technologies to identify and monitor customer risk.
-
Article
Correspondent banking fades; de-risking gets the blame
In an ironic twist, regulation designed to protect the global financial system is forcing whole regions outside the regulated financial system, creating more risk for everyone.
-
News BriefFCA fines Monzo digital bank $28 million for AML, KYC failures
Britain’s Financial Conduct Authority has fined the online bank Monzo the equivalent of more than $28 million for failing to properly collect customer information and protect against financial crimes. The move is the latest in a series of efforts by British authorities to combat chronic money laundering and other crimes ...