With the enactment of Republic Act 10641, we have increased the ownership ceiling of foreign banks to 100 percent from 60 percent, liberalized branching requirements and allowed foreign banks to participate in foreclosure proceedings of real estate properties.
An integrated approach to compliance-risk management can be particularly effective for U.S. Bank Secrecy Act and anti-money-laundering (BSA/AML) compliance. Often, the identification of a BSA/AML risk or deficiency in one business activity or subsidiary can indicate potential problems or concerns in other activities across the organization.