The Federal Financial Institutions Examination Council (FFIEC) has issued the 2007 Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. The revised manual reflects the ongoing commitment of the federal and state banking agencies and the Financial Crimes Enforcement Network (FinCEN) to provide current and consistent risk-based guidance for banking organizations to comply with the BSA and safeguard operations from money laundering and terrorist financing.
The manual has been updated to further clarify supervisory expectations and incorporate regulatory changes since the manual's 2006 revision. As with prior versions of the FFIEC BSA/AML Examination Manual, the 2007 revised 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.
See the SR letter for full details.