Federal Reserve Announces Enforcement Action

Enforcement Action – The Fed announced an enforcement action against an ex-bank employee for conspiracy to commit bank fraud, identity theft, and conspiracy to commit wire fraud. The total amount involved was almost $3.5 million.  

From the FDIC

Computer-Security Incident Notification – On Thursday, April 28, 2022, the FDIC, Federal Reserve, and OCC will joint host an Ask the Regulators webinar regarding the Computer-Security Incident Notification Rule. During the webinar, the Agencies will respond to questions submitted in advance from banking organizations and service providers.  

Kleptocracy and Foreign Public Corruption

Kleptocracy Advisory - FinCEN issued an advisory on kleptocracy and foreign public corruption, urging financial institutions to focus their efforts on detecting the proceeds of foreign public corruption—a priority for the U.S. Government as it continues to implement the U.S. Strategy on Countering Corruption. The advisory provides typologies and potential indicators of kleptocracy and other forms of foreign public corruption, namely bribery, embezzlement, extortion, and the misappropriation of public assets.