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FFIEC 2010 Manual Revises Bulk Cash, Remote Deposit Captures and Other Provisions
By Colby Adams
printU.S. regulators Thursday released the latest Bank Secrecy Act examination manual for financial institutions, clarifying regulatory requirements on bulk currency shipments, suspicious activity reporting and compliance department structures. The changes reflect banking industry and examination staff feedback, according to the Federal Financial Institutions Examination Council (FFIEC), an interagency body that sets uniform guidelines for financial examiners. The agency and other regulators last revised the anti-money laundering (AML) manual in August 2007. Among the other changes in the latest edition are updated procedures for Automated Clearing House transactions, guidance for examiners trying to determine if a financial institutions has systemic compliance...
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