FinCEN’s New AML/CFT Priorities

FinCEN’s New AML/CFT Priorities

In October 2021, FINRA released Regulatory Notice 21-36 discussing the first government-wide priorities for anti-money laundering and countering the financing of terrorism policy, which was mandated by the Anti-Money Laundering Act of 2020 (AML Act). The AML/CFT Priorities FinCEN’s new AML/CFT Priorities focus on threats to the U.S. financial system and national security and reflect longstanding and continuing AML/CFT concerns previously identified by FinCEN and other U.S. government departments and agencies. They include predicate crimes to money laundering that generate illicit proceeds that illicit actors may launder through the financial system. FinCEN set forth eight priorities: Corruption; Cybercrime, including relevant Read more about FinCEN’s New AML/CFT Priorities[…]