The Financial Crimes Enforcement Network (FinCEN) has announced delayed implementation of the revised Suspicious Activity Report by Depository Institutions (SAR-DI) form. The revised form was scheduled to take effect on June 30, 2007, and become mandatory on December 31, 2007.
The Financial Crimes Enforcement Network (FinCEN) has updated two Bank Secrecy Act guidance. Financial institutions are recommended to read these guidance for the latest information on maintaining accounts and Suspicious Activity Report (SAR) supporting documentation.
The Office of the Comptroller of the Currency will host workshops for national community bank directors at the Arrowwood Conference Center, Alexandria, Minnesota, July 10-12.
The workshops provide practical information that expands bank directors' skills and understanding of issues facing their banks.
Federal agencies have recently reported a spate of security incidents that put sensitive data at risk. Personally identifiable information about millions of Americans has been lost, stolen, or improperly disclosed, thereby exposing those individuals to loss of privacy, identity theft, and financial crimes.
Statement Of Sheila C. Bair, Chairman, Federal Deposit Insurance Corporation on Improving Credit Card Consumer Protection: Recent Industry And Regulatory Initiatives before the Subcommittee On Financial Institutions and Consumer Credit of the Financial Services Committee,
Comptroller of the Currency John C. Dugan testified before Congress that current credit card disclosure rules should be changed to improve consumersâ€™ ability to make well-informed decisions about the credit cards they choose.
Fraudulent letters that claim to be from the FDIC are being faxed to financial institutions. The letters request that the financial institution provide a copy of its certification of foreign correspondent accounts.
Comptroller of the Currency John C. Dugan recently established the Enterprise Governance unit to support the Office of the Comptroller of the Currencyâ€™s strategic planning, risk management, quality management, assurance testing, and business process improvement efforts.
The following items were recently posted to the Federal Deposit Insurance Corporationâ€™s (FDIC) Office of Inspector General (OIG) Web site: http://www.fdicig.gov/ under Publications. In cases where an OIG report includes sensitive or confidential information, the OIG may redact certain information in the report,...
The Federal Bureau of Investigation (FBI) relies on a critical network to electronically communicate, capture, exchange, and access law enforcement and investigative information. Misuse or interruption of this critical network, or disclosure of the information traversing it, would impair FBIâ€™s ability to...
The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of South Dakota that suffered major damage from storms and flooding, which started on May 4, 2007.
The U.S. Departments of Treasury, Justice, and Homeland Security have jointly released the 2007 National Money Laundering Strategy, which responds directly to the first U.S. Money Laundering Threat Assessment, released in December 2005.
Banker Education Announcement
This is a reminder about the Office of the Comptroller of the Currencyâ€™s workshops for national community bank directors. Our next workshop on credit risk will be held in Cape May, New Jersey at the historic Congress Hall Hotel. Set amidst a sweeping lawn overlooking the...