The FDIC insures deposits; examines and FFIEC BSA/AML Examination Manual iii 7/28/2006 . BSA/AML Exam Manual Changes On February 25, 2021, the FFIEC announced revisions to the BSA/AML Examination Manual. Guidance to examiners on risk-focused supervision and developing the examination plan. Treasury publishes National Money Laundering and Terrorist Financing Risk Assessments. FFIEC BSA/AML Examination Manual 6 04/29/2010 . The FDIC publishes regular updates on news and activities. April 2020 Updates to the Bank Secrecy Act/Anti-Money Laundering Examination Manual. CUSTOMER IDENTIFICATION PROGRAM EXAMINATION AND TESTING PROCEDURES. The Importance of Community Banks in Paycheck Protection Program Lending, FDIC Podcast: Community Banks and the Paycheck Protection Program, Assessing Compliance with BSA Regulatory Requirements, Access FDIC Financial Institution Letters (FILs) on the FDIC’s website. An introduction to the FFIEC BSA/AML Examination Manual and related concepts. Click this link to see a summary of the major changes to the BSA/AML the official website and that any information you provide is Guidance to examiners on assessing BSA/AML compliance program structures, management of foreign branches, and parallel banking. This long-awaited update includes many revisions designed to emphasize and enhance the regulators’ risk-focused approach to BSA/AML supervision. 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. banking industry research, including quarterly banking View the online BSA/AML Examination Manual and Procedures. Keep up with FDIC announcements, read speeches and An profiles, working papers, and state banking performance On April 15, 2020, the FFIEC released a 43 page update to their BSA/AML Exam Manual. data. Refer to the . Read on for more details. The Federal Financial Institutions Examination Council recently released numerous updates to the Bank Secrecy Act/Anti-Money Laundering Examination Manual. The manual itself does not establish requirements for financial institutions; such requirements are … The Federal Deposit Insurance Corporation (FDIC) is an independent agency Introduction INTRODUCTION 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) important initiatives, and more. At the top of the screen, across the banner from left to right, users can get to the Infobase Home Page, the Online BSA/AML Manual, Examination Procedures, References, and the FFIEC Home Page. BSA Compliance Officer, Interagency Statement on Risk-Focused Bank Secrecy Act/Anti-Money Laundering Supervision. The manual contains Federal Reserve policies and procedures designed to assist Federal Reserve Bank examiners in the review of financial rec-ordkeeping practices and procedures of state member banks and foreign financial institutions operating within the United States. Persons), Foreign Bank and Financial Accounts Reporting, International Transportation of Currency or Monetary Instruments Reporting, Foreign Branches and Offices of U.S. Banks, Purchase and Sale of Monetary Instruments, Privately Owned Automated Teller Machines, Nonresident Aliens and Foreign Individuals, Embassy, Foreign Consulate, and Foreign Mission Accounts, Non-Governmental Organizations and Charities, Appendix D – Statutory Definition of Financial Institution, Appendix F – Money Laundering and Terrorist Financing Red Flags, Appendix H – Request Letter Items (Core and Expanded), Appendix I – Risk Assessment Link to the BSA/AML Compliance Program, Appendix K – Customer Risk Versus Due Diligence and Suspicious Activity Monitoring, Appendix M – Quantity of Risk Matrix – OFAC Procedures, Appendix N – Private Banking – Common Structure, Appendix O – Examiner Tools for Transaction Testing, Appendix P – BSA Record Retention Requirements, Appendix S – Key Suspicious Activity Monitoring Components, DEVELOPING CONCLUSIONS AND FINALIZING THE EXAM, ASSESSING COMPLIANCE WITH BSA REGULATORY REQUIREMENTS, RISKS ASSOCIATED WITH MONEY LAUNDERING AND TERRORIST FINANCING. BANK SECRECY ACT/ANTI-MONEY LAUNDERING EXAMINATION MANUAL Core Examination Procedures – BSA/AML Compliance Program OBJECTIVE Assess the adequacy of the BSA/AML compliance program. Browse our FFIEC BSA/AML Examination Manual 7 INTRODUCTION 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. BSA/AML Examination Manual To view specific sections of the manual, select within the left column. documentation of laws and regulations, information on Top Tasks 2 3 4 Introduction and quantity of independent testing, the financial institution’s history of BSA/AML compliance, and other relevant factors. (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 Manual instructs examiners to tailor BSA/AML examinations to a bank’s risk profile, including examination and testing procedures, and conducting risk-focused testing or analytical reviews. Before This long-awaited update includes many revisions designed to emphasize and enhance the regulators’ risk-focused approach to BSA/AML supervision.

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