WASHINGTON - Federal regulators on Tuesday released the latest guidebook for examiners to use in assessing financial institutions' anti-money laundering programs.

The 2014 edition of the Bank Secrecy Act and anti-money laundering examination manual does not lay out new policy, but the guide is considered a valuable resource to evaluate AML programs and ensure they align with the regulators' expectations. The manual - released by the Federal Financial Institutions Examination Council - is a compilation of guidance that has been in effect since 2010.

The manual includes an overview of compliance program requirements, a description of sound industry practices and an explanation of exam procedures, according to the guide's introduction. The table of contents for the 2014 manual identifies the sections which have undergone the most revision.

The document is an interagency effort by the NCUA, FDIC, Federal Reserve Board, Office of the Comptroller of the Currency and State Liaison Committee. The Financial Crimes Enforcement Network and the Office of Foreign Assets Control also collaborated in making revisions to the manual.

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