Updates to FFIEC BSA/AML Exam Manual

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

• International Transportation of Currency or Monetary Instruments Reporting
• Purchase and Sale of Monetary Instruments Recordkeeping
• Reports of Foreign Financial Accounts
• Special Measures

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.