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Ask The Experts – Why Does My Bank Request a Third Party Independent Review Every Year?

Ask The Experts – Why Does My Bank Request a Third Party Independent Review Every Year?

Posted on: August 19th, 2021 by Julie

Most banks will request an Independent Review from their Money Services Business clients annually. Here is the reason why… Banks, just like check cashers, money transmitters and other MSBs, are audited frequently. However, banks are audited by government entities. GOVERNMENT ENTITIES AUDITING BANKS Office of the Comptroller of the Currency (OCC) Federal Deposit Insurance Corporation […]

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