Supervisory Policy and Guidance Topics
Operations risk often arises from fraud, or other unanticipated events resulting in the institution’s inability to deliver products or services. This risk exists in each product and service offered. The key to controlling operational risk from fraud-related activities lies in adapting effective policies, procedures, and controls to meet these risk exposures. Basic internal controls including segregation of duties, dual controls, and reconcilements remain important. Information security controls, in particular, become more significant requiring additional processes, tools, expertise, and testing.
Policy LettersFraud-Related Activities
Interagency Examination Procedures for Reviewing Compliance with the Unlawful Internet Gambling Enforcement Act of 2006
Debt Elimination Scams
Identity Theft and Pretext Calling
Supervisory Guidance Regarding the Investment of Fiduciary Assets in Mutual Funds and Potential Conflicts of Interest
Guidance on Addressing Internal Control Weaknesses in U.S. Branches and Agencies of Foreign Banking Organizations through Special Audit Procedures
Violations of Federal Reserve Margin Regulations in Custodial Agency Accounts Resulting From "Free-Riding" Schemes
- The Detection and Deterrence of Mortgage Fraud Against Financial Institutions: 2009 Mortgage Fraud White Paper (FFIEC)
- Bank Holding Company Supervision Manual
- Section 2010.9, "Supervision of Subsidiaries (Required Absences from Sensitive Positions)"
- Section 2124.5, "Identity Theft Red Flags and Address Discrepancies"
- Section 2160.0, "Recognition and Control of Exposure to Risk"
- Commercial Bank Examination Manual
- Section 2130.3, "Consumer Credit: Examination Procedures"
- Section 4063.1, "Electronic Banking"
- FFIEC IT Examination Handbook InfoBase