FinCEN and Federal Banking Agencies Issue Request for Information on Bank Secrecy Act/Anti-Money Laundering Compliance Models
The Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies (the “agencies”) are issuing a request for information on the extent to which the principles discussed in today’s “Supervisory Guidance on Model Risk Management” support compliance by banks with Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Control requirements. The agencies are seeking comments and information to better understand bank practices and determine whether additional explanation or clarification may be helpful.
News Release: https://www.fincen.
Request for Information: https://www.