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
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
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.
The updated sections
- reinforce the risk-focused approach to BSA/AML examinations.
- include updated information for examiners regarding transaction testing, including examples.
Please contact Spencer W. Doak, Director for BSA/AML Policy, at (202) 649-5470.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy