US CONGRESS TO ADOPT ENABLERS ACT IN AML AND GRAFT CRACKDOWN
August 30th, 2022
The US Congress is gearing up to adopt the ENABLERS Act (1) that would extend anti-money laundering requirements (AML) in the Bank Secrecy Act (2), such as customer due diligence and reporting suspicious transactions, to cover professional service providers including certain lawyers and accountants, third-party payment services and people who form or register companies or trusts.
The ENABLERS Act notes that kleptocrats “and other corrupt actors” are “increasingly relying on non-bank professional service providers,” including those in the United States, ...
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