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The AMLA 2020 includes sweeping reforms updating and modernizing U.S. anti-money laundering laws, many of which have implications beyond financial institutions regulated under the Bank Secrecy Act.
The AMLA 2020 includes sweeping reforms updating and modernizing
U.S. anti-money laundering laws, many of which have implications
beyond financial institutions regulated under the Bank Secrecy
Act.
This multipart series will discuss key
takeaways, including (1) new corporate beneficial ownership
disclosure requirements; (2) enhanced whistleblower program; (3)
expanded subpoena authority over foreign financial institutions
accessing the U.S. market; (4) new criminal penalties for
concealing the involvement of foreign officials in transactions;
(5) expansion of AML law to codify jurisdiction over virtual
currency activities; and (6) development of regulatory solutions
with a greater focus on emerging technologies.
Originally published April 12, 2021.
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