Comments sought on new US AML Act, significant implications for financial institution
The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has published an Advance Notice of Proposed Rulemaking (ANPR) seeking comments on the new Anti-Money Laundering Act of 2020 (AML Act) which includes the Corporate Transparency Act (CTA). Reforms in the act present significant implications for…
FinCEN director asks bankers to “help us shape the rules” on new AML Act
The director of the US treasury department’s Financial Crimes Enforcement Network (FinCEN) has addressed bankers to share some of his perspectives on the US’ new Anti-Money Laundering Act of 2020 (AML Act). Kenneth Blanco said the act, which includes the Corporate Transparency Act (CTA), is a landmark…
FinCEN informs financial institutions of developments related to trade in antiquities and art
The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has issued a notice to inform financial institutions of the latest developments to prevent money laundering and report suspicious activity related to trade in art and antiquities. The notice covers new measures in the Anti-Money Laundering…
