The Federal Financial Institutions Examination Council ("FFIEC") added one section and updated three sections along with their respective examination procedures in its Bank Secrecy Act / AML Examination Manual. The FFIEC BSA/AML Examination Manual guides examiners in their evaluation of financial institutions' BSA/AML compliance programs and compliance with related regulatory requirements.
The FFIEC stated that the updates do not provide new instructions for examiners or reflect an increased focus on particular areas, but rather are intended to provide additional transparency regarding the existing examination process.
The FFIEC updated the following sections of the manual:
- Introduction - Customers(New)
- Charities and Nonprofit Organizations
- Independent Automated Teller Machine Owners or Operators
- Politically Exposed Persons
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