OCC Bulletin 2020-39| April 15, 2020

Bank Secrecy Act/Anti-Money Laundering: Updated Sections of the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual

To

Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties

Summary

The Federal Financial Institutions Examination Council (FFIEC) revised the following sections of the FFIEC Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual: “Scoping and Planning”; “BSA/AML Risk Assessment”; “Assessing the BSA/AML Compliance Program”; and “Developing Conclusions and Finalizing the Exam.” These revisions reflect the OCC’s continued commitment to, and leadership on, interagency reform efforts that improve the effectiveness and efficiency of the BSA/AML regime and reduce unnecessary burden on banks.

Note for Community Banks

The updated FFIEC BSA/AML Examination Manual applies to the examination of community banks.

Highlights

The updated sections

  • reinforce the risk-focused approach to BSA/AML examinations.
  • include updated information for examiners regarding transaction testing, including examples.

Further Information

Please contact Spencer W. Doak, Director for BSA/AML Policy, at (202) 649-5470.

 

Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy

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