Compliance & Risk Management

Regulations faced by banks cover key areas of risk, competition, and social concerns as determined by government action. A wide array of processes and technology are deployed by financial institutions to address risks and regulations, and various audits and assessments are required to test and prove adequate controls are in place. Some regulations related to account openings and money movement — like BSA, OFAC and AML – require intense scrutiny at the transaction level and complex algorithms and detection methods to protect bank clients while complying with government mandates.

Banks must also combat fraud and help educate customers on a variety of fraud prevention and information security techniques.