I had to have the BCM replaced (AWD version of the car) and though the ABS light came on with this failure and also the 'brake failure" message I am confused as to whether this is the same module as the ABS module. The Volvo dealer charge for the part was over $1,000.
BCM v. ABS module on 2004 Volvo S60
by Visitor in Piscataway, NJ on March 04, 2010
ANSWER by Bret Bodas on March 04, 2010
The ABS functions are controlled by the BCM. The BCM (Body Control Module) also controls the DSTS system (Dynamic Stability & Traction Control).