In February of 2021, the FFIEC released the second round of what appears to be an overhaul of the BSA/AML Exam Manual. The first recent revisions of the Exam Manual took place in early 2020 when four sections were revised with a statement that further revisions were to come. The 2020 revisions included sections on scoping and planning instruction, risk-focused BSA/AML supervision, developing the BSA/AML examination plan, BSA/AML risk assessment, assessing the BSA/AML compliance program, internal controls, BSA/AML independent testing, BSA compliance officer, BSA/AML training, and a section on developing conclusions and finalizing the exam. The newest, February 2021 revisions include updates to four sections including and introduction section to the section on assessing compliance with BSA regulatory requirements, and sections on customer identification programs, currency transaction reporting, and transactions of exempt persons.

The FFIEC BSA/AML Exam Manual can be found here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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