Compliance Briefing for Friday, October 31, 2014

To access specific issuances, go to our Top Stories section, where you'll find links to all the relevant documents.
Risk Scoring — The Essential Element of BSA/AML Compliance

PATRIOT OFFICER automatically calculates risk scores for each customer to identify higher-risk customers and monitors them more closely as the regulations mandate. The solution automatically detects check fraud, check kiting, deposit fraud, ACH fraud, wire fraud, Internet banking fraud, credit/debit card fraud, ATM fraud, employee fraud, and financial fraud to prevent losses. PATRIOT OFFICER is the only BSA/AML/FRAUD solution endorsed by American Bankers Association.
— GlobalVision Systems, Inc.

Counterfeit cashier's checks alert
Alert 2014-32 has been issued by the OCC on counterfeit cashier's checks bearing the name of Fort Sill National Bank. Details of the alert have been posted on the BOL Alerts & Counterfeits Page.

Verafin Case Study: Finding a Solution for the Future
In this recent case study, Tom Ammerman at CNB Bank discusses the process of finding the right solution that can grow with the bank, and the benefits of utilizing Verafin's FRaud detection and Anti-Money Laundering (FRAML) software.
— Verafin

Term deposit offering
The first November 2014 fixed-rate offering of term deposits has been announced by the Federal Reserve. The offering of seven-day term deposits with an interest rate of 0.26 percent and a maximum tender amount of $20 billion will be held on November 3 and will incorporate an early withdrawal feature.

UDAAP Compliance Made Easy
The best way to navigate UDAAP compliance is understand your risk. TRUPOINT's UDAAP RiskCheck™ is an easy-to-use web-based tool that makes UDAAP compliance easy. It will provide the answers you need quickly and at a price that makes sense.
— TRUPOINT Partners

G.20 Finance Companies report
The August 2014 G.20 Finance Companies report has been released by the Federal Reserve.

OCC & CFPB New Third-Party Oversight Requirements:
Using Multiple AMCs?
If you're using multiple AMCs, compliance with new oversight requirements can be difficult or impossible without this framework. Download this free white paper with fourteen recommendations and step-by-step guidelines.
— a la mode

OCC revises MRA policies
The OCC has announced the issuance of Bulletin 2014-52 and the publication of guidance revising policy and procedures for how it manages Matters Requiring Attention (MRA) resulting from its examination of supervised institutions.

GLBA Privacy Compliance Inspires Customer Trust
Your customers trust you to protect their personal financial information. However, 6 out of 10 financial institutions are unable to find the information they are charged to protect. Improve your GLBA Privacy compliance and show your customers they are right to trust you, all with one solution.
— InfoGPSNetworks

FREE Customized Fair Lending Desk Audit Using the Latest 2013 HMDA Data
The best way to understand your fair lending risk is a comprehensive peer analysis using the latest 2013 HMDA data. ComplianceTech industry experts will utilize LendingPatterns™, an easy-to-use web-based tool that makes understanding fair lending easy. Click here to request a FREE Fair Lending Desk Audit using the latest 2013 HMDA data.
— Compliance Technologies, Inc.

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