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Regulators Giving More Scrutiny to Bank’s AML Talent Amid Layoffs
By Brian Monroe
printFederal regulators are evaluating the merits of anti-money laundering compliance staff in an effort to ensure that unqualified individuals weren't hired to cut costs, according to bank officials. Over the past year, federal and state examiners have increasingly inquired about the qualifications of Bank Secrecy Act (BSA) officers, at times asking that the institutions provide resumes, industry certifications and proof of educational experience, according to BSA staff at national, regional and local banks. Examiners, particularly those from the U.S. Treasury Department's Office of the Comptroller of the Currency (OCC), are "more focused on who you are, what you do and...
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