Our work with the Federal Financial Institutions Examination Council to develop the Bank Secrecy Act/Anti-Money Laundering Examination Manual, which was released last summer, marked an important step forward in our effort to ensure consistent supervision in the area of BSA compliance.
Through the manual, the agencies have emphasized a banking organization's responsibility to establish and implement risk-based policies, procedures, and processes to comply with the BSA and safeguard its operations from money laundering and terrorist financing. The agencies are currently updating the manual and plan to release the revised version this summer.