AML and Regulatory Compliance News

Wednesday, July 21, 2021

Company: RSM US LLP


AML and Regulatory Compliance News


Regulatory compliance news, ideas, education and updates for financial institutions

For more information on the topics in this newsletter or to learn more about our services, contact Rob Farling, national leader of AML and regulatory compliance.

AML and Regulatory Compliance News


Interagency statement on model risk management for bank systems

The recent supervisory guidance on the model risk management for bank systems supporting BSA/AML compliance and key points of consideration.


Geographic Targeting Orders reissued for 12 metropolitan areas

On April 29, 2021, the Financial Crimes Enforcement Network (FinCEN) announced the renewal of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate.


Consumer Compliance Supervisory Highlights

Per the Consumer Compliance Supervisory Highlights publication issued by the Federal Deposit Insurance Corp., 99% of all FDIC-supervised institutions were rated satisfactory or better for consumer compliance.

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