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Financial Institution Letter

Bank Secrecy Act Federal Financial Institutions Examination Council Bank Secrecy Act/Anti-Money Laundering Examination Manual



Summary: The Federal Financial Institutions Examination Council has issued the Bank Secrecy Act/Anti-Money Laundering Examination Manual.

Highlights:
  • The Federal Financial Institutions Examination Council has issued the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual (Manual).
  • The Manual is the result of a collaborative effort of the federal banking agencies and the Financial Crimes Enforcement Network to ensure consistency in the BSA/AML examinations.
  • The Manual includes the examination procedures that examiners will begin using during the third quarter of 2005 when conducting BSA/AML examinations of banking organizations.
  • The Manual does not set new standards; instead, it is a compilation of existing regulatory requirements, supervisory expectations and sound practices in the BSA/AML area.
  • More than two-thirds of the Manual is dedicated to providing narrative guidance and resource materials.
  • Compliance and business line personnel should review the Manual carefully to ensure that your banking organization is properly addressing BSA/AML compliance and risk-management issues.
  • The Manual can be found at:
    http://www.ffiec.gov/press/pr063005.htm

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officer
BSA Compliance Officer

Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2005/index.html .

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html .

Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).


Additional Related Topics:

  • Anti-Money Laundering
  • Terrorist Financing
FIL-56-2005
Attachment(s)
Related Topics
Bank Secrecy Act

Last Updated: June 30, 2005