The Federal Financial Institutions Examination Council (FFIEC) released an updated version to certain portions of its Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual on April 15, 2020. The BSA/AML manual outlines the guidelines bank examiners follow when assessing the adequacy of a bank’s BSA/AML compliance program. However, it can also serve as a tool for financial institutions to provide insight on expectations for regulatory compliance, as well as how institutions are evaluated during the examination process.

Learning objectives:

• Purpose & history of the FFIEC BSA/AML Manual
• Understand how to utilize key takeaways
• Review & comprehend the specific updates made to the manual
• Assess the impact these changes will have on examinations
• Make necessary program adjustments for temporary changes in customer behavior due to pandemic