TOPIC: OCC

Basic Knowledge/Risks of Private Banking for BSA

VP at a bank ($7.6BUSA)
I am interested in learning more about private banking. I have read the exam manual and I know what I know from my CAMS course, but still would like some real world pitfalls. I have heard from others to avoid calling your program "the private bank" because often you are not really doing a true private banking relationship but the name itself draws scrutiny. 

We are not talking about banking foreign individuals, but more or less just personalized service. I intended on having an increased level of CDD/KYC but other than that, can anyone share any stories or regulator criticisms you have had?

Thank you, 

    OCC Reveals 4 Top Risks Facing the Banking Industry

    Twice per year, the Office of the Comptroller of the Currency (OCC) releases a wide-ranging report on the health of the US banking industry and potential risks. This spring's edition is another powerful installment in that series, with predictions on emerging risks, a potential recession, and overall bank profitability. Learn 4 important risks from the OCC’s Semiannual Risk Perspectives Report, plus a few more key takeaways: https://www.trupointpartners.com/blog/4-key-risks-facing-the-banking-industry-according-to-the-occ