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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:

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.

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