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The Most Significant Change to AML Rules Since the USA Patriot Act

insights The Most Significant Change to AML Rules Since the USA Patriot Act Thomas Fawell · January 4, 2021

Overview.  January 2, 2021.   The newly enacted National Defense Authorization Act[1] (NDAA) imposes the most significant reformation of the Bank Secrecy Act (BSA) and related anti-money laundering (AML) laws since the adoption of the USA PATRIOT Act.  The largest changes are in division F, the Anti-Money Laundering Act of 2020 (the “Act”).   The general intent of…

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