BSA/AML What's New

What's New

This section is where all changes made to the InfoBase are listed. Each change entry includes the effective date and a brief description.

Below are the most recent updates to the InfoBase. For a complete listing of all changes, click here: Change History Log

February 25, 2021
New Section: Assessing Compliance with BSA Regulatory Requirements
Revised Sections: Customer Identification Program, Currency Transaction Reporting, Transactions of Exempt Persons
The FFIEC members have added a new introductory section and revised content in the Customer Identification Program, Currency Transaction Reporting, and Transactions of Exempt Persons. The Manual provides instructions to examiners for assessing the adequacy of a bank’s BSA/AML compliance program and its compliance with BSA regulatory requirements. The Manual itself does not establish requirements for banks; such requirements are found in statutes and regulations. The updates should not be interpreted as new instructions or as a new or increased focus on certain areas; instead, they offer further transparency into the examination process and support risk-focused examination work. The FFIEC revised the sections in close collaboration with Treasury’s Financial Crimes Enforcement Network.