Revised Bank Secrecy Act/Anti-Money Laundering Examination Manual Is Released

The Federal Financial Institutions Examination Council today released the revised Bank Secrecy Act/Anti-Money Laundering Examination Manual. The revised manual provides current guidance on risk-based policies, procedures, and processes for banking organizations to comply with the Bank Secrecy Act and safeguard operations from money laundering and terrorist financing. The 2010 version clarifies supervisory expectations since the update of August 24, 2007. The revisions draw upon comment from the banking industry and examination staff. 

The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, Office of Thrift Supervision, and State Liaison Committee revised the manual in collaboration with the Financial Crimes Enforcement Network, the administrator of the Bank Secrecy Act, and the Office of Foreign Assets Control.
 
Revisions were made throughout the manual. The sections of the manual with more significant updates are noted in the table of contents.
 
The manual is located on the FFIEC BSA/AML InfoBase at: http://www.ffiec.gov/bsa_aml_infobase/default.htm.