US regulators issue BSA/AML exam manual
WASHINGTON, DC – US federal financial regulators have released a manual for risk-based Bank Secrecy Act (BSA), anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) examinations in financial institutions.
The manual includes a new enterprise-wide BSA/AML compliance programme, the objective of which is to assess the holding company or the lead financial institution for BSA/AML compliance.
The American Bankers Association (ABA) welcomed the manual as a vital development of new and uniform BSA/AML examination procedures. "Bankers and compliance officers around the country will be relieved to have one
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