Federal and State Regulators Release Updates to the BSA/AML Examination Manual

WASHINGTON (June 21, 2021) – The Federal Financial Institutions Examination Council (FFIEC) today released updates to four sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual (Manual). Today’s updates affect the following Manual sections:

• International Transportation of Currency or Monetary Instruments Reporting (PDF)
• Purchase and Sale of Monetary Instruments Recordkeeping (PDF)
• Reports of Foreign Financial Accounts (PDF)
• Special Measures (PDF)

The updates should not be interpreted as new instructions or increased focus on certain areas; instead, they offer further transparency into the examination process and support risk-focused examination work.

The Manual provides instructions to examiners for assessing the adequacy of a bank’s or credit union’s BSA/AML compliance program and its compliance with BSA regulatory requirements. The Manual itself does not establish requirements for banks; such requirements are found in statutes and regulations.

The Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the State Liaison Committee worked closely with Treasury’s Financial Crimes Enforcement Network on today’s updates. These updates are identified by a 2021 date label on the FFIEC BSA/AML InfoBase. Updates to other sections of the Manual will be announced as they are completed.