FFIEC BSA/AML Examination Manual
United States
2005
AML/CFT
Overview
Key Obligations
- Establish a risk-based BSA/AML compliance program with the four pillars: internal controls, independent testing, designated compliance officer, and training
- Perform Customer Identification Program (CIP) and Customer Due Diligence (CDD), including beneficial ownership checks
- Implement transaction monitoring and suspicious activity reporting processes
- File Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) as required by FinCEN
- Maintain accurate recordkeeping and information-sharing practices under the BSA and Section 314 of the USA PATRIOT Act
- Prepare for regulatory examinations by documenting policies, procedures, and risk assessments
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Related Regulations
FAQ
Who issues the FFIEC BSA/AML Manual?
The Federal Financial Institutions Examination Council (FFIEC), with input from U.S. banking regulators and FinCEN.
Who uses the manual?
Examiners from regulatory agencies, as well as banks, credit unions, and their compliance teams preparing for examinations.
Is it a law or guidance?
It is guidance, not a statute, but examiners use it to test compliance with the BSA and related AML laws.
How often is it updated?
Updates are released periodically to reflect new regulations, enforcement trends, and risk priorities.