Renewed Regulatory Focus
1. Failure by institutions to commit adequate resources to BSA/AML compliance programs, due to either cost-cutting measures or a failure to keep pace with an institution’s growth.
2. Risks posed by high-risk international financial activities, such as foreign correspondent banking, cross-border funds transfers, remote deposit capture, etc.
3. Failure by institutions to manage and supervise third-party service providers and payment processors.
4. Rapid growth of new technologies, such as mobile banking, prepaid cards, and internet cloud-based payment processors.
A Broadleaf Group Banking Consultant can help you stay on top of these issues and provide an no-cost assessment of your monitoring process. Call 1-866-837-4103 or fill out the form in the right sidebar to get started.