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A revised and clarified Bank Secrecy Act/anti-money laundering examination manual was released Tuesday by NCUA and other member agencies of the Federal Financial Institutions Examination Council in collaboration with BSA enforcement agencies.

The manual revisions clarify supervisory expectations and incorporate regulatory changes made since the manual's 2010 update. Changes are made to several sections, including those dealing with suspicious activity reporting, currency transaction reporting and exemptions, Office of Foreign Assets Control processes and designations, foreign correspondent accounts, automated clearinghouse transactions, third-party payment processors and more.

FFIEC said the revisions incorporate feedback from financial institutions and examination staff. The updated manual was released in collaboration with the Financial Crimes Enforcement Network (which administers BSA) and OFAC and is in effect now.