WASHINGTON — The Federal Financial Institutions Examination Council released an updated version of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual today.
The revised manual aims to provide current and consistent guidance on risk-based policies, procedures, and processes for banking organizations to comply with the BSA and safeguard operations from money laundering and terrorist financing. The changes came from staff and industry feedback to what has become an annual updating of the manual.
The sections with more significant changes are noted in the table of contents, including customer due diligence and suspicious activity reporting among others, and an index was added to this version.
The manual is available on the FFIEC BSA/AML InfoBase at: http://www.ffiec.gov/bsa_aml_infobase/default.htm.
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