Daniel P. Stipano quoted in an ACAMS article, “Bank scandals, beneficial owners and Brexit turmoil: AML in 2019”
ACAMSDaniel P. Stipano
Daniel P. Stipano was quoted on January 3, 2020 in an ACAMS article, “Bank scandals, beneficial owners and Brexit turmoil: AML in 2019,” which provided an anti-money-laundering year in review. The article noted how in 2019 the OCC partnered with the Financial Crimes Enforcement Network, Federal Reserve and other regulators to draft a joint statement explaining their risk-based approach to AML supervision. The document mostly reiterated previous statements.
Stipano noted, “This is just reflective of the nature of interagency relationships and how difficult it is to get multiple agencies to agree to anything substantive. This often leads to a lowest common denominator approach.”