The Digital Operational Resilience Act (DORA), which took effect on January 16, 2023, is a crucial piece of legislation designed to bolster the digital resilience of the financial sector. It aims to ensure that financial entities can continue to operate through severe operational disruptions by
In an ambitious bid to understand the rapidly evolving relationship between traditional banks and the burgeoning fintech sector, U.S. banking regulators have issued a comprehensive request for information (RFI). Released by the Office of the Comptroller of the Currency (OCC), the Federal Reserve
The recent enforcement action against Citigroup by U.S. regulators has drawn significant attention due to the bank's ongoing struggles with regulatory compliance, particularly in the realm of data quality management. The complexities surrounding this issue not only impact Citigroup but also serve
Evolve Bancorp, along with its subsidiary Evolve Bank & Trust, has recently found itself in the regulatory spotlight. The US Federal Reserve Board issued a directive that mandates significant corrective measures to address deficiencies in the bank’s risk management, anti-money laundering (AML), and
The global financial regulatory landscape is undergoing significant changes in 2024, influenced by key political shifts and technological innovations. With financial crime at the forefront of regulatory concerns, this article delves into emerging patterns and strategies within this fast-evolving
In 2024, as financial crimes become increasingly complex and cross-border in nature, regulators across the globe face a high-stakes game of cat and mouse. With geopolitical tensions shaping policy and technological innovations blurring the lines of legality, the task of combating financial crime
