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BankNet
More resources for national banks

Money Laundering

Criminals have long used money laundering schemes to conceal or “clean” the source of fraudulently obtained or stolen funds. Money laundering poses significant risks to the safety and soundness of the U.S. financial industry. With the advent of terrorists who employ money-laundering techniques to fund their operations, the risk expands to encompass the safety and security of the nation. Through sound operations, banks play an important role in helping investigative and regulatory agencies identify money-laundering entities and take appropriate action.

Under the Bank Secrecy Act (BSA) and related anti-money laundering laws, banks must

  • Establish effective BSA compliance programs
  • Establish effective customer due diligence systems and monitoring programs
  • Screen against Office of Foreign Assets Control (OFAC) and other government lists
  • Establish an effective suspicious activity monitoring and reporting process
  • Develop risk-based anti-money laundering programs

Learn More


Related News and Issuances
Publish DateIdentifierTitle
04/22/2014  Alert 2014-21, Counterfeit Cashier's Checks of Cumberland Federal Bank FSB, Cumberland, Wis.
04/22/2014  NR 2014-61, OCC Reports Increased Loan Growth Among Southern District Community Banks and Thrifts; Oil and Gas Lead Growth
04/18/2014  Alert 2014-20, Counterfeit Cashier's Checks of First Federal Savings and Loan, Lorain, Ohio