USA ISSUES MAJOR AML REFORMS
November 2nd, 2021
THE USA is this year steadily installing new AML/CFT controls under a new ‘Anti-Money Laundering Act’ (AMLA) passed by Congress in January, the dying days of the administration of former President Donald Trump, overriding his veto of this long-debated reform.
This legislation is substantial. It creates a new beneficial ownership register, authorises a new AML whistleblowing system, increases AML fines, expands powers to subpoena foreign banks for AML/CFT information, and more. (1)
USA FIU FinCEN has been busy rolling out its requirements ever since, with ...
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