Regulatory Alerts2024-06-28
Added
Anti-Money Laundering and Countering the Financing of Terrorism Programs
The Financial Crimes Enforcement Network proposes to amend regulations across 31 CFR Parts 1010, 1020, 1021, 1022, 1023, 1024, 1025, 1026, 1027, 1028, 1029, and 1030 to require financial institutions to establish, implement, and maintain effective, risk-based, and reasonably designed anti-money laundering and countering the financing of terrorism programs. The proposed rule mandates a risk assessment process and requires institutions to review government-wide AML/CFT priorities and incorporate them into their programs as appropriate. This notice of proposed rulemaking invites written comments on or before September 3, 2024.
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