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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;

Reference Links
- 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

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