Who is Your Borrower in a Virtual World?March 08, 2013Regulations are murky in defining how banks should verify customer identity when a new customer opens an account or credit line through digital channels, but best practices are emerging to help banks with customer identity verification in those instances.
The Compliance Risk of Social MediaJanuary 29, 2013The guidelines recently issued by the FFIEC on risk management and the use of social media for financial institutions only scratches the surface of this burgeoning issue.
Rewriting the KYC PlaybookJanuary 18, 2013Banks must address the "V3challenge" -- questions around variety, velocity and vagueness -- in order to achieve better bank counterparty due diligence, as part of Know Your Customer compliance.
JPMorgan Chase Faces U.S. Order to Improve ComplianceJanuary 11, 2013A U.S. regulatory probe of JP
Morgan Chase & Co is expected to result in an order that
the bank correct lapses in how it polices suspect money flows,
in an action expected as soon as Friday, people familiar with
the situation said.
Looser Bank Buffer Rules No Panacea For Europe, U.S.January 07, 2013A decision by global
regulators to give banks more time and flexibility to build cash
reserves will not boost lending or speed recovery in
debt-strapped Europe, where firms and households have scant
appetite to borrow.