WASHINGTON, April 10 -- Financial Crimes Enforcement Network has issued a proposed rule called: Anti-Money Laundering and Countering the Financing of Terrorism Programs.
The proposed rule was published in the Federal Register on April 10 by Andrea M. Gacki, Director, Financial Crimes Enforcement Network.
Summary: Pursuant to the Department of the Treasury (Treasury) and FinCEN's efforts to modernize the Bank Secrecy Act (BSA) and to implement provisions of the Anti-Money Laundering Act of 2020 (AML Act), FinCEN is proposing a rule to fundamentally reform the requirements for financial institutions' anti-money laundering and countering the financing of terrorism (AML/CFT) programs. Among other changes, this proposed rule aims to ensure tha...