Metropolitan Commercial Bank has been fined $14.5mn by the US Federal Reserve Board (FRB) over falling short in its process when it comes to KYC.  The FRB, declared that the New York-based Metropolitan Commercial Bank has been exhibiting ‘deficient’ third-party risk management practices in relation to prepaid card issuing.  As per the indictment, the prepaid … Continue reading Metropolitan Bank issued $14.5mn penalty by the Fed over customer ID violations