Computer Software Due Diligence (Vendor Risk Analysis)

By: Jennifer Kramer

Through FIL 121-2004, the FDIC is issuing guidance to financial institutions on performing proper due diligence when selecting computer software of a service provider. This due diligence includes making sure that the software of service provider is compliant with applicable laws, including the Bank Secrecy Act, which includes the USA Patriot Act.

For more information, refer to FDIC’s FIL-121-2004 at www.fdic.gov.

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