Treasury’s strategy identifies four priorities to address the most significant illicit finance threats to the U.S. financial system.
Browsing: Terrorism financing
As FinCEN works to create a long-awaited database of beneficial ownership information—a key provision of the Anti-Money Laundering Act of 2020—regulators today reminded banks that they must continue to adhere to existing beneficial ownership requirements.
As part of its work to implement the Anti-Money Laundering Act of 2020, the Financial Crimes Enforcement Network has issued a request for information seeking feedback on how it can streamline, modernize and update anti-money laundering and countering the financing of terrorism rules in the U.S.
The American Bankers Association joined eight financial trade associations in a letter of strong support for the 2021 National Defense Authorization Act, which includes several critical improvements to anti-money laundering rules.
The Financial Crimes Enforcement Network today issued a final rule imposing a fifth special measure against Iran as a jurisdiction of primary money laundering concern under Section 311 of the USA Patriot Act.
A bipartisan group of senators today released draft legislation aimed at reforming several existing anti-money laundering rules.
As the House Financial Services Committee today held a hearing on the financial crime, the American Bankers Association joined eight other financial trade organizations in a letter to committee leaders highlighting the need for a national beneficial ownership registry.
The Financial Crimes Enforcement Network last week released a revised list of the jurisdictions that are subject to countermeasures or enhanced due diligence due to anti-money laundering and counter-terrorist financing deficiencies, as well as jurisdictions with AML/CFT deficiencies that are working to correct them.
The European Commission today issued its own list of 23 jurisdictions that it said have “strategic deficiencies” in their anti-money laundering and counter-terrorist financing frameworks.
To support the ongoing effort to stop money laundering and illicit finance, the Treasury Department today issued its National Illicit Finance Strategy.