One reason for this decision is to align with the fraud risk management best practices recommended by recent guidelines issued by the Office of the Comptroller of Currency (OCC). As per StreetInsider, the guidelines propose requirements consistent with the risk assessment and risk profile of financial institutions and are designed to set an overarching framework for fraud management. The OCC guidance prescribes a framework aligned with the existing AML/BSA compliance and risk management frameworks.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.