--- title: US Treasury and FinCEN Clarify BSA/AML Supervision description: The regulators outline their practices for assessing a bank's risk profile. image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/iStock_14669611_LARGE-e1479334033382-May-12-2022-09-09-55-10-AM.jpg --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/us-treasury-and-fincen-clarify-bsa-aml-supervision#popup-newsletter) #### Want the latest news on securities markets -- FREE? 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The risk-focused approach enables federal agencies to better tailor examination plans and procedures based on the unique risk profile of each bank. The statement outlines common practices for assessing a bank's money laundering/terrorist financing risk profile, assisting examiners in scoping and planning the examination and initially evaluating the adequacy of the BSA/AML compliance program. Using this approach, the agencies generally are able to allocate more resources to higher-risk areas and fewer resources to lower-risk areas when conducting BSA/AML examinations. The statement does not establish new requirements, and also notes that having a risk-based compliance program enables a bank to allocate compliance resources commensurate with its risk. This statement was developed by a working group aimed at improving the effectiveness and efficiency of the BSA/AML regime. Members include the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and FinCEN. Today's [joint statement](https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20190722a1.pdf) is the third statement resulting from the working group. [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/us-treasury-and-fincen-clarify-bsa-aml-supervision) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/us-treasury-and-fincen-clarify-bsa-aml-supervision) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/us-treasury-and-fincen-clarify-bsa-aml-supervision) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. 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