Anti-Money Laundering and Countering the Financing of Terrorism Program Requirements: Notice of Proposed Rulemaking
The OCC approved the issuance of a notice of proposed rulemaking, to be published jointly with the FDIC and the NCUA that would amend the Bank Secrecy Act (BSA) compliance program requirements that each agency has issued for its supervised banks. The amended requirements, referred to as anti-money laundering and countering the financing of terrorism (AML/CFT) programs, align with changes that are being concurrently proposed by the Financial Crimes Enforcement Network (FinCEN).