Agencies Update BSA/AML Examination Manual

The Federal Financial Institutions Examination Council today released updates to its Bank Secrecy Act/anti-money laundering examination manual. The updates—which do not establish new requirements—are intended to provide additional transparency and emphasize a risk-based approach to BSA/AML supervision.

The updates address international transportation of currency or monetary instruments reporting; purchase and sale of monetary instruments recordkeeping; reports of foreign financial accounts; and regulatory requirements for special measures issued under Section 311 of the USA Patriot Act.