Regulatory Alerts2020-09-16
Added
Anti-Money Laundering Program Effectiveness
The Financial Crimes Enforcement Network seeks public comment on potential regulatory amendments to require all covered financial institutions to maintain an effective and reasonably designed anti-money laundering program. The proposed rule aims to clarify that such programs must assess and manage risk based on a financial institution's risk assessment and any national anti-money laundering priorities issued by the agency. Comments on this advance notice of proposed rulemaking must be received by November 16, 2020.
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