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Board of Governors of the Federal Reserve System
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Board of Governors of the Federal Reserve System

Supervisory Policy and Guidance Topics

Fraud-Related Activities

Operations risk often arises from fraud, or other unanticipated events resulting in the institutionís 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.
Sections on this page:  

Policy Letters

Fraud-Related Activities

SR 10-11
Interagency Examination Procedures for Reviewing Compliance with the Unlawful Internet Gambling Enforcement Act of 2006
SR 10-3
FFIEC Retail Payment Systems Booklet
SR 05-26
Special Post-Employment Restriction Set Forth in the Intelligence Reform and Terrorism Prevention Act of 2004
SR 05-17
Katrina Related Marketing Practices Invoking the Name of the Federal Reserve
SR 04-20
FFIEC Information Technology Examination Handbook
SR 04-7
SEC Guidance on the Potential Liability of Financial Institutions for Securities Law Violations Arising from Deceptive Structured Finance Products and Transactions
SR 04-3
Debt Elimination Scams
SR 03-14
Fraudulent Federal Reserve Note Schemes
SR 02-13
"Prime Bank" and Other Financial Instrument Fraud Schemes
SR 01-11 (SUP)
Identity Theft and Pretext Calling
SR 99-7 (SPE)
Supervisory Guidance Regarding the Investment of Fiduciary Assets in Mutual Funds and Potential Conflicts of Interest
SR 96-27 (SUP)
Guidance on Addressing Internal Control Weaknesses in U.S. Branches and Agencies of Foreign Banking Organizations through Special Audit Procedures
SR 95-10 (SUP)
Payable Through Accounts
SR 93-64 (FIS)
Credit Card-Related Merchant Activities
SR 93-61 (FIS)
Interagency Advisory Concerning "Prime Bank" Financial Instruments
SR 93-13 (FIS)
Violations of Federal Reserve Margin Regulations in Custodial Agency Accounts Resulting From "Free-Riding" Schemes
SR 90-38
The Comprehensive Thrift and Bank Fraud Prosecution and Taxpayer Recovery Act of 1990
 

Additional Resources

 

 

Manual References

Last update: August 2, 2013