On April 15, 2020, the FFIEC released an interagency statement announcing updates to four sections of the Exam Manual. For Immediate Release: April 15, 2020 . Consumer Compliance Examination Manual. The April 2020 Updates to the FFIEC BSA/AML Examination Manual do not establish any new requirements. The BSA/AML InfoBase Home Page (this screen) provides users with access to everything in one place. The Information Technology Examination Handbook InfoBase concept was developed by the Task Force on Examiner Education to provide field examiners in financial institution regulatory agencies with a quick source of introductory training and basic information. Consolidated Compliance Manual – PDF 18Mb (Last Updated: 05/2020) PDF Help. This Federal Financial Institutions Examination Council (FFIEC) Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Examination Manual provides guidance to examiners for carrying out BSA/AML and Office of Foreign Assets Control (OFAC) examinations. Federal and State Regulators Release Updates to BSA/AML Examination Manual . Click this link to see a summary of the major changes to the BSA/AML FFIEC BSA/AML Examination Manual Updates Reveal Exam Process and Expectations By Jessica C. Watt on April 23, 2020 Posted in Beneficial Ownership , Compliance Program , Examination , Federal Deposit Insurance Corporation , National Credit Union Administration , Office of …

Today, the FFIEC agencies published updates to the BSA/AML Examination Manual that represent a significant step forward in our efforts to improve how we ensure banks have effective programs to safeguard the banking system against financial crime, particularly money laundering and terrorist financing. BSA/AML professionals have been anxiously waiting revisions to the 2014 BSA/AML Examination Manual (Exam Manual) published by the Federal Financial Institutions Examination Council (FFIEC), the interagency body comprised of federal banking regulatory agencies. As the trend has been with regulatory exams, a risk-based approach is how BSA/AML exams will be designed going forward. The FFIEC released an update to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) examination manual on April 15, 2020 for the first time in six years. On April 15, 2020, the FFIEC released a 43 page update to their BSA/AML Exam Manual. The Federal Financial Institutions Examination Council (FFIEC) has released several updates to the Bank Secrecy Act/Anti-Money Laundering examination manual, which is used to evaluate compliance with the Bank Secrecy Act and anti-money laundering requirements. On April 15, the FFIEC published the updated Bank Secrecy Act/Anti-Money Laundering Examination Manual (Manual). Bank of Anytown files – Zip of Word Documents. The revisions can be identified by a 2020 date in the table of contents and include: Examiners should tailor Bank Secrecy Act/anti-money laundering (BSA/AML) examinations to a bank’s risk profile. Bank Secrecy Act/Anti-Money Laundering Examination Manual Update Printable Format: FIL-44-2020 - PDF ().

Instead, the updates provide some subtle changes and additional transparency in the examination process, as well as guidance to examiners for performing risk-based BSA/AML assessments of a bank’s BSA/AML compliance program. JavaScript must be enabled in your browser in order to use some functions. The FFIEC has made several updates to the BSA/AML Examiner’s Manual. The Information Technology Examination Handbook InfoBase concept was developed by the Task Force on Examiner Education to provide field examiners in financial institution regulatory agencies with a quick source of introductory training and basic information. ... covering the wording with the hope that exams will improve through clarity on regulatory expectations versus mandates. This long-awaited update includes many revisions designed to emphasize and enhance the regulators’ risk-focused approach to BSA/AML supervision. This long-awaited update includes many revisions designed to emphasize and enhance the regulators’ risk-focused approach to BSA/AML supervision. The April 2020 Updates to the FFIEC BSA/AML Manual. The FFIEC said the manual update was designed to help lessen the uncertainty faced by financial institutions during the … Examiners should assess the adequacy of an institution’s BSA/AML compliance program and risk assessment processes. Examiners must have access to the appropriate independent testing scope and supporting workpapers to leverage findings from the bank’s independent testing. This Federal Financial Institutions Examination Council (FFIEC) Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Examination Manual provides guidance to examiners for carrying out BSA/AML and Office of Foreign Assets Control (OFAC) examinations. The Federal Financial Institutions Examination Council (FFIEC) today released several updates to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) examination manual. The focus of this webinar is to discuss the 2020 updates to the FFIEC BSA/AML Examination Manual. The FDIC’s Consumer Compliance Examination Manual (Manual) is revised on an on-going basis as rules, regulations, policies, and procedures change.