Federal and State Regulators Release Updates to BSA/AML Examination Manual

April 2020
Federal and State Regulators Release Updates to BSA/AML Examination Manual

(April 15, 2020) - The Federal Financial Institutions Examination Council (FFIEC) today released several updates to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) examination manual. The manual is used to evaluate compliance with the Bank Secrecy Act and anti-money laundering requirements.

The agencies are aware of the uncertainty faced by financial institutions during this unprecedented time. The manual update, which supports tailored examination work, has been in process for an extended period and should not be interpreted as new instructions or as a new or increased focus.

The updates offer further transparency into the examination process and establish no new requirements. Today’s updates provide instructions to examiners for risk-focusing BSA/AML examinations and assessing a bank’s BSA/AML compliance program.

The Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the State Liaison Committee worked closely with Treasury’s Financial Crimes Enforcement Network on today’s updates. Updates to other sections of the manual will be announced as they are completed.

Attachments:

Agency Contact Phone
Federal Reserve Darren Gersh 202.452.2955
FDIC Brian Sullivan 202.898.6984
NCUA Ben Hardaway 703.518.6333
OCC Stephanie Collins 202.649.6870
SLC James Kurtzke 202.728.5733
Last modified on
04/15/20