Press Releases
Press Release
For Immediate Release July 28, 2005

The Federal Financial Institutions Examination Council (FFIEC) today announced the release of its Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Examination InfoBase (InfoBase), an automated tool for examiners and industry that provides information on the FFIEC BSA/AML Examination Manual (Manual) released on June 30, 2005.

The FFIEC and the five federal banking agency members (the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision) (the federal banking agencies), and the Financial Crimes Enforcement Network (FinCEN) collaborated on the development of the InfoBase. This tool will assist examiners and industry to more easily navigate and facilitate use of the Manual. The InfoBase features the entire Manual, including background materials, examination procedures, and appendices, as well as frequently asked questions and links to other resources that may be helpful in understanding BSA/AML requirements and examination expectations.

The InfoBase includes:

  • The Manual with an automated search function;
  • Laws and regulations;
  • Relevant issuances from the federal banking agencies;
  • Common indicators “red flags of suspicious activity;”
  • Comprehensive list of acronyms and abbreviations;
  • Video presentations; and
  • Frequently asked questions.

The InfoBase is available online at http://www.ffiec.gov/bsa_aml_infobase/. Also, the federal banking agencies are providing the InfoBase to field examiners on CD-ROM.

The “FFIEC InfoBase” concept was developed by the Task Force on Examiner Education to provide field examiners in financial institution regulatory agencies with a quick source of introductory training and basic information. The FFIEC will update the InfoBase in conjunction with the Manual to reflect current regulatory requirements. The long-term goal of the InfoBase is to provide training for developments in the field of BSA/AML examinations and for other topics of specific concern to examiners in FFIEC’s five member agencies.

Media Contacts:

Federal Reserve Andrew Williams (202) 452-2955
FDIC David Barr (202) 898-6992
NCUA Cherie Umbel (703) 518-6330
OCC Kevin Mukri (202) 874-5770
OTS Erin Hickman (202) 906-6677
FinCEN Sheri James (202) 905-3770

 

The FFIEC was established in March 1979 to prescribe uniform principles, standards, and report forms and to promote uniformity in the supervision of financial institutions. The Council has five member agencies: the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision. The Council's activities are supported by interagency task forces and by an advisory State Liaison Committee, comprised of five representatives of state agencies that supervise financial institutions.