The FFIEC Monday released updates to four sections of the BSA/AML Examination Manual. The updates should not be interpreted as new instructions or increased focus on certain areas; instead, they offer further transparency into the examination process.
New provisions of the Anti-Money Laundering Act of 2020 will likely result in much activity around its implementation. National examination and supervisory priorities are expected to be established by July 1, with implementing regulations to follow before the end of the year.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.