Big News on BSA
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;
- Joint Release
- Outreach Fact Sheet
- Questions and Answers
- FFIEC BSA/AML Examination Manual Introduction ? Overview
- FFIEC BSA/AML Examination Manual Examination Procedures
- FFIEC BSA/AML Examination Manual Appendixes
First published on BankersOnline.com 6/30/05
First published on 06/30/2005