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Bank Secrecy Act/Anti-Money Laundering Examination Manual Update

BSA/AML, OFAC and Fraud
February 25, 2021

Summary:

The Federal Financial Institutions Examination Council (FFIEC) is updating sections and related examination procedures in the FFIEC Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual.

Statement of Applicability to Institutions: This Financial Institution Letter (FIL) applies to all FDIC-supervised institutions.

Highlights:

  • The FFIEC BSA/AML Examination Manual provides instruction to examiners for assessing a bank’s BSA/AML compliance program and its compliance with BSA regulatory requirements.
  • The manual itself does not establish requirements for financial institutions; such requirements are found in statutes and regulations.
  • Financial Institutions should not interpret the updates as new instructions or as a new or increased focus on certain areas; instead, the updates are intended to offer further transparency into the examination process and support risk-focused examination work.
  • New and revised sections of the manual are identified by a 2021 date on the FFIEC BSA/AML InfoBase.
  • Future updates to other sections of the manual will be announced as they are completed.

Distribution:

FDIC-Supervised Institutions

Suggested Routing:

Chief Executive Officer
BSA Compliance Officer

Attachment(s)
FFIEC BSA/AML InfoBase

Last Updated: February 25, 2021