OCC pushes tougher AML controls
WASHINGTON, DC - The Office of the Comptroller of the Currency (OCC) will hold higher risk banks to a tougher standard of anti-money laundering (AML) controls, according to the agency's acting chief counsel, Daniel Stipano.
In its risk-based prevention of money laundering, the agency designates as 'high-risk', certain products and services, types of entities and geographic locations likely to attract special notice from an OCC examiner. Such high-risk services include international brokered deposits, international correspondent banking relationships, special use accounts and private banking.
"It should come as no
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