The Federal Financial Institutions Examination Council (FFIEC) has released several updates to the Bank Secrecy Act/Anti-Money Laundering examination manual, which is used to evaluate compliance with the Bank Secrecy Act and anti-money laundering requirements.
The FFIEC said the manual update was designed to help lessen the uncertainty faced by financial institutions during the public health crisis.
Read on for details from the FFIEC on the updates, which other regulators collaborated on.
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