Ffiec manual ofac

66 rows · Procedures that provide guidance to examiners for carrying out BSA/AML and OFAC .  · The Federal Financial Institutions Examination Council (FFIEC) periodically updates its BSA Examination Manual, with the most recent update on December 1, This release is the latest since revisions began in as the council attempts to clarify and achieve transparency within sections of this valuable resource. Office of Foreign Assets Control (OFAC) regulations are not part of the BSA, and an OFAC review is not required during each examination cycle. However, OFAC compliance programs are frequently assessed in conjunction with BSA/AML examinations. Factors to consider when determining whether to include a review of OFAC compliance in the.

This Federal Financial Institutions Examination Council (FFIEC) Bank Secrecy Act (BSA) /Anti-Money Laundering (AML) Examination Manual provides guidance to examiners for carrying out BSA/AML and Office of Foreign Assets Control (OFAC) examinations. An effective BSA/AML compliance program requires sound risk management; therefore, the manual also provides guidance on identifying and controlling risks associated with money laundering and terrorist financing. Procedures that provide guidance to examiners for carrying out BSA/AML and OFAC examinations. Select the examination procedure name to view it online, select the Word .docx) to download the procedure, or check the individual procedure checkboxes to download a combined document with the procedures selected. Scroll down to the bottom of the page. FFIEC Updates BSA/AML Examination Manual: The FFIEC released one new section and updated three sections of the BSA/AML examination manual. Office of Foreign Assets Control. OFAC has updated the SDN list as of Dec. 6. The last update prior to this was Nov.

Objective. Assess the bank's risk-based Office of Foreign Assets Control (OFAC) compliance program to evaluate whether it is appropriate for the bank's OFAC. May in implementing BSA regulations by developing examination guidance, for ease in drafting joint statements from the FFIEC Agencies. Feb In the BSA/AML Examination Manual, the FFIEC published Appendix M, Building and documenting a risk-based OFAC compliance program based.