The Federal Deposit Insurance Corporation (FDIC) has announced its auditing procedures for ensuring that banks and other financial institutions are in compliance with security measures established under the U.S. Patriot Act. The measures, designed to fight money laundering, focus on a customer identification program through which bank officials verify the identity of customers.
By Raymond W. Holcomb; Reviewed by Colonel (retired) Britt Mallow
Raymond Holcomb spent 23 years in the FBI, spanning the era of J. Edgar Hoover through 9-11 and its aftermath. He played a key role in the transformation of the organization’s primary focus from crime-fighting to national security.