The FFIEC’s BSA/AML Examination Manual outlines the processes that examiners should take when evaluating an institution’s BSA/AML/CFT program. There is obviously a wealth of information in this manual that financial institutions can also use to craft their own internal BSA/AML/CFT audits. When it comes to scoping and planning a review, the manual states:
The scoping and planning process enables examiners to understand the money laundering, terrorist financing (ML/TF), and other illicit financial activity risk profile of the bank. The scoping and planning process also enables examiners to focus their reviews of risk management practices and compliance with BSA requirements on areas of greatest ML/TF and other illicit financial activity risks. Examiners assess whether the bank has developed and implemented adequate processes to identify, measure, monitor, and control those risks and comply with BSA regulatory requirements.
Kevin explains more in the video.
Published 2026/05/21