US—Turbocharging Enforcement Powers

Sven Stumbauer ()

Chapter Chapter 7 in The Next Wave of Global Anti-Money Laundering Enforcement, 2025, pp 49-55 from Springer

Abstract: Abstract The US Federal Financial Institutions Examination Council (FFIEC) released an updated version of its BSA/AML Examination Manual on April 15, 2020, which provides guidelines for examiners in assessing the adequacy of a financial institution's BSA-AML compliance program. The main theme of the current update can be summarized with the oft-used term risk-based approach to both BSA and AML compliance, as re-emphasized in previous public statements by regulators. This chapter highlights the need for taking a good look at one's risk assessment, as well as the importance of deploying scarce resources across areas with the highest risk in their particular financial institutions.

Keywords: US; Bank Secrecy Act; Federal Financial Institutions Examination Council; Anti-Money Laundering Act; Risk assessment; Resources (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-05824-0_7

Ordering information: This item can be ordered from
http://www.springer.com/9783031058240

DOI: 10.1007/978-3-031-05824-0_7

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().