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FDIC’s Internal Auditor to Evaluate Agency’s Examinations, Create SAR Database
By Brian Orsak
printThe U.S. Federal Deposit Insurance Corporation's internal auditor plans to evaluate the agency's anti-money laundering (AML) initiatives, including how it examines member institutions' compliance programs, a report issued Thursday said. In its 2007 business plan, the FDIC's Office of Inspector General also said it will increase efforts to investigate fraud at institutions supervised by the agency, develop educational outreach programs warning of growing fraud in the industry and create a database to better track suspicious activity reports (SARs). The OIG plans to issue a report on the effectiveness of FDIC exams related to Bank Secrecy Act (BSA) compliance in the...
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