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OCC Conducting ‘Horizontal Review’ of Large Banks’ AML Programs
By Brian Monroe
printA federal financial regulator is reviewing the anti-money laundering programs of large, national banks in an effort to establish regulatory benchmarks, say government officials and compliance officers. The evaluation by the U.S. Treasury Department's Office of the Comptroller of Currency (OCC), which regulates more than 1,650 national banks and the branches of their foreign subsidiaries, is in addition to the standard Bank Secrecy Act examinations and will be used as an "assessment [of] the state of the system," said agency spokesman Kevin Mukri, in an e-mail Friday. Mukri wouldn't comment on why the "horizontal review" of anti-money laundering programs is...
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