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OCC Bulletin 2019-33
July 22, 2019
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Chief Executive Officers, BSA Officers, and Compliance Officers of National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Financial Crimes Enforcement Network (collectively, the agencies) today issued a joint statement to clarify and explain their existing risk-focused approach to examinations of financial institutions' Bank Secrecy Act/anti-money laundering (BSA/AML) compliance programs. This statement is intended to increase transparency into the risk-focused approach used by the agencies for planning and performing BSA/AML examinations and does not establish new requirements.
The statement applies to the OCC's supervision of all national banks, federal savings associations, and federal branches and agencies (collectively, banks).
In the joint statement, the agencies
Please contact Spencer W. Doak, Director for BSA/AML Compliance Policy, at (202) 649-5470.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy