The new FFIEC BSA/AML Examination manual is out! The agencies published it today, June 30, 2005. In addition to the examination manual, the agencies have announced plans for a series of nationwide conference calls, regional outreach meetings and a simulcast to brief bankers and examiners on the new manual, beginning August 15. An Outreach Fact Sheet provides details on those events.
A new set of Questions and Answers about the Manual indicates:
The agencies will begin using the manual 3rd quarter, 2005.
No additional requirements for compliance or AML risk management are imposed by the new manual;
The manual provides guidance on assessing BSA/AML risk;
Also contained in the manual is a compilation of existing guidance on SARs;
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