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Updates to FFIEC BSA/AML Exam Manual

Posted: Jun 24, 2021 | Author: FFIEC
BSA  BSA/AML  compliance  FFIEC 

The Federal Financial Institutions Examination Council has released updates to four sections of the BSA/AML Examination Manual:

The FFIEC's  press release indicates the updates should not be interpreted as new instructions or increased focus on certain areas; instead, they offer further transparency into the examination process and support risk-focused examination work.

The manual provides instructions to examiners for assessing the adequacy of a bank’s or credit union’s BSA/AML compliance program and its compliance with BSA regulatory requirements. The manual itself does not establish requirements for banks; such requirements are found in statutes and regulations.

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