On August 11, FinCEN issued Advisory FIN-2014-A007 to provide guidance regarding BSA/AML compliance programs. Specifically, the guidance recommends that institutions create a “culture of compliance” by ensuring that: (i) leadership actively supports and understands compliance efforts; (ii) efforts to manage and mitigate BSA/AML deficiencies and risks are not compromised by revenue interests; (iii) relevant information from the various departments within the organization is shared with compliance staff to further BSA/AML efforts; (iv) the institution devotes adequate resources to its compliance function; (v) the compliance program is effective by, among other things, ensuring that it is tested by an independent and competent party; and (vi) leadership and staff understand the purpose of the institution’s BSA/AML efforts. The guidance follows numerous public remarks by FinCEN Director Jennifer Shasky Calvery and other financial regulators and enforcement authorities calling for stronger compliance cultures, particularly with regard to BSA/AML compliance. Director Shasky Calvery reinforced that message in an August 12, 2014 speech in which she asserted that, in the enforcement matters she has seen, a culture of compliance “could have made all the difference.” In the same speech, Ms. Shasky Calvery criticized—as Comptroller of the Currency Thomas Curry also did earlier this year—financial institutions which may be “de-risking” by preventing certain categories of businesses from accessing banking services. She stressed that “just because a particular customer may be considered high risk does not mean that it is ‘unbankable’,” and called on banks to develop programs to manage high risk customer relationships.