The Federal Financial Institutions Examination Council (FFIEC) has issued the 2010 Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. The revised manual reflects the ongoing commitment of the federal and state banking agencies to provide current and consistent risk-based guidance for banking organizations to comply with the BSA and safeguard operations from money laundering and terrorist financing. The manual has been updated to further clarify supervisory expectations and incorporate regulatory changes since the manual’s 2007 revision.
The FFIEC member agencies revised the manual in collaboration with the Financial Crimes Enforcement Network (FinCEN), which is the administrator of the BSA, and the Office of Foreign Assets Control (OFAC). FinCEN and OFAC collaborated on the revisions made to the sections of the manual that address compliance with the regulations and sanctions programs that FinCEN and OFAC administer and enforce.
See SR letter for full details.