Tag: due diligence

Poor Vendor Risk Management Costs Bank $4.75 Million

Compared to other agencies, the Federal Reserve hasn’t handed down very many enforcement actions for…

OCC: Third-Party Providers Contribute to ‘Elevated’ Operational Risk

Could a third-party provider be the weak link in your institution’s operations? It’s possible, according…

Your Risk To-Do List: Following Up on New Customer Due Diligence Rules

Chances are you were ready when FinCEN’s new customer due diligence (CDD) rules requiring the…

Willing to Take a Gamble? Don’t Wager on High-Risk Activities Without a Careful Risk Assessment

Sports gambling is the latest high-risk business opportunity to open up to banks, thanks to…

BSA Heroes: How FinCEN Data Uncovers Big Crimes

Complying with the Bank Secrecy Act (BSA) may feel like a thankless job, but the…

How to Respond When a Vendor Gets Hacked

A vendor data breach is a nightmare for any bank or credit union. From the…

Ticking Time Bomb: Why A Free Vendor Management Checklist Is A Disaster Waiting to Happen

There is temptation in the world of management. With regulatory scrutiny increasing and cost a…

NCUA Keeps Supervisory Priorities Steady in 2018

The National Credit Union Administration’s Supervisory Priorities for 2018 remain consistent with 2017 with an…

Did You Hear the One About the Community Bank and the Russian Oligarch?

Is your bank still holding onto questionable customers or assets that pre-date today’s world of…

When Vendors Fight: CUNA Mutual Suit is an Important Reminder to Stay on Top of Vendor Due Diligence

There’s an old African proverb: When the elephants fight, it’s the grass that suffers. And…