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
August 2, 2023
The FFIEC members have reorganized some existing sections of the Manual to create new, individual sections based on specific regulations. Modifications to the six sections included in this release are detailed below. Sections have been deleted from the “Risks Associated with Money Laundering and Terrorist Financing” portion of the Manual. Concepts from the deleted sections are now included within related sections of “Assessing Compliance with BSA Regulatory Requirements.” There were no changes to the regulatory requirements covered by these sections. The agencies made revisions to ensure language clearly distinguishes between mandatory regulatory requirements and considerations set forth in guidance or supervisory expectations. The updated sections provide further transparency into the BSA/AML examination process and do not establish new requirements. The FFIEC revised the sections in close collaboration with Treasury’s Financial Crimes Enforcement Network.
Revised Section: Special Information Sharing Procedures to Deter Money Laundering and Terrorist Activity
Updated and retitled the previous Information Sharing section to align with the regulations at 31 CFR 1010.520 and 31 CFR 1010.540.
Revised Section: Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions
Updated and combined the previous Foreign Correspondent Account Recordkeeping, Reporting and Due Diligence section and Correspondent Accounts (Foreign) sections and retitled to align with the regulation at 31 CFR 1010.610.
Revised Section: Due Diligence Programs for Private Banking Accounts
Updated and combined the previous Private Banking Due Diligence Program (Non-US Persons) and Private Banking sections and retitled to align with the regulation at 31 CFR 1010.620.
New Section: Prohibition on Correspondent Accounts for Foreign Shell Banks; Records Concerning Owners of Foreign Banks and Agents for Service of Legal Process
Created a new stand-alone section from the previous Foreign Correspondent Account Recordkeeping, Reporting, and Due Diligence section and titled it to align with the regulation at 31 CFR 1010.630.
New Section: Summons or Subpoena of Foreign Bank Records; Termination of Correspondent Relationship; Records Concerning Owners of Foreign Banks and Agents for Service of Legal Process
Created a new stand-alone section from the previous Foreign Correspondent Account Recordkeeping, Reporting, and Due Diligence section and titled it to align with the regulation at 31 CFR 1010.670.
New Section: Reporting Obligations on Foreign Bank Relationships with Iranian-Linked Financial Institutions
Created new stand-alone section from the existing Foreign Correspondent Account Recordkeeping, Reporting, and Due Diligence section and titled it to align with the regulation at 31 CFR 1060.300.
December 1, 2021
New Section: Introduction - Customers
Revised Sections: Independent Automated Teller Machine Owners or Operators, Politically Exposed Persons, and Charities and Nonprofit Organizations
The FFIEC members have revised content in the Independent Automated Teller Machine Owners or Operators, Politically Exposed Persons, Charities and Nonprofit Organizations and added a new Introduction - Customers. The agencies made revisions to ensure language clearly distinguishes between mandatory regulatory requirements and considerations set forth in guidance or supervisory expectations. Further, the revisions incorporate regulatory and other changes since the last update of the Manual in 2014. These updated sections provide further transparency into the BSA/AML examination process and do not establish new requirements. The FFIEC revised the sections in close collaboration with Treasury’s Financial Crimes Enforcement Network.
June 21, 2021
Revised Sections: Purchase and Sale of Certain Monetary Instruments Recordkeeping, Special Measures, Reports of Foreign Financial Accounts, and International Transportation of Currency or Monetary Instruments Reporting
The FFIEC members have revised content in the Purchase and Sale of Certain Monetary Instruments Recordkeeping, Special Measures, Reports of Foreign Financial Accounts, and International Transportation of Currency or Monetary Instruments Reporting sections. The agencies made revisions to ensure language clearly distinguishes between mandatory regulatory requirements and considerations set forth in guidance or supervisory expectations. Further, the revisions incorporate regulatory and other changes since the last update of the Manual in 2014. These updated sections provide further transparency into the BSA/AML examination process and do not establish new requirements. The FFIEC revised the sections in close collaboration with Treasury’s Financial Crimes Enforcement Network.
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.