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US—Turbocharging Enforcement Powers

In: The Next Wave of Global Anti-Money Laundering Enforcement

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  • Sven Stumbauer

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.

Suggested Citation

  • Sven Stumbauer, 2025. "US—Turbocharging Enforcement Powers," Springer Books, in: The Next Wave of Global Anti-Money Laundering Enforcement, chapter 0, pages 49-55, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-05824-0_7
    DOI: 10.1007/978-3-031-05824-0_7
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