Braden Perry Quoted in GARP Article on FinCEN Recent Steps to Raise the Compliance Bar
The Global Association of Risk Professionals (GARP) featured Braden Perry, among other experts, in an article on the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) recent steps to raise the compliance bar. The rulemaking agenda published in January in the Federal Register highlighted areas of regulatory oversight. FinCEN has identified significant threats and intends to include a risk assessment process to improve priority-settings and accountability.
“Banks and traditional nonbank institutions such as securities and commodities market participants are used to robust AML compliance programs,” said Braden Perry when speaking with GARP on this topic. “This is a signal that all covered companies must thoroughly assess their risk and evaluate which of the FinCEN priorities are applicable, while proactively monitoring their business for risk. A targeted and tailored plan is required and should be updated as the business and the environment evolve.”
To read this article in full: https://www.garp.org/risk-intelligence/culture-governance/fincen-identifies-significant-threats-signals-closer-oversight
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