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Federal Regulators Emphasize Risk-Based BSA/AML Oversight

Federal Regulators Emphasize Risk-Based BSA/AML Oversight

Federal regulators issued a joint statement to improve the transparency of their risk-focused approach to Bank Secrecy Act and anti-money-laundering supervision. The statement outlines common practices for assessing bank risk profiles to help examiners evaluate compliance. The agencies’ risk-based approach is designed to allocate more resources to higher-risk areas and fewer resources to lower-risk areas during BSA/AML exams.

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