Where are we now? The FinCrime industry has been waiting for regulatory reform for some time. Now that the Anti-Money Laundering Act (AMLA) of 2020 is law, we see FinCEN and the regulatory agencies taking action to implement desperately needed change. Beneficial ownership is getting the attention and direction it deserves. Regulations are being written to support the FinCEN Priorities and give the industry much needed guidance. Are you ready? This session will discuss the current legislative and regulatory climate and give tips on knowing what your financial institution should do now to prepare.
Program Take Aways:
- Now is the time to understand AMLA and create project plan for future regulations/guidance
- Enhance policies, procedures, and processes for areas that will gain regulatory scrutiny
- Respond to FinCEN notices and requests for comment – let your voice be heard
Target Audience: Anyone responsible for the BSA/AML program in your institution