Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
FFIEC BSA/AML exam manual updated
The Federal Financial Institutions Examination Council (FFIEC) has updated sections and related examination procedures in the FFIEC Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual.
The sections affected include:
- Introduction - Customers (New)
- Charities and Nonprofit Organizations
- Independent Automated Teller Machines Owners or Operators
- Politically Exposed Persons
The sections remind examiners that no specific customer type automatically presents a higher risk of money laundering, terrorist financing, or other illicit financial activity.
Banks that operate in compliance with applicable BSA/AML requirements and reasonably manage and mitigate risks related to the unique characteristics of customer relationships are neither prohibited nor discouraged from providing accounts or services to any specific class or type of customer.
The Manual itself does not establish requirements for financial institutions; such requirements are found in statutes and regulations. Financial institutions should not interpret the updates as new instructions or an increased focus on certain areas; instead, the updates are intended to offer further transparency into the examination process and support risk-focused examination work.
New and revised Manual sections are identified by a 2021 date on the FFIEC BSA/AML InfoBase.
Related links:
- FFIEC press release
- FDIC FIL-76-2021
- OCC Bulletin 2021-59