ACAMS Greater Twin Cities Chapter February Virtual Event: Reviewing the AML ACT of 2020

二月 25, 2021
11:00AM - 12:00PM CST
在线
1 ACAMS Credits

Overview

On December 11, 2020, the Senate passed the Anti-Money Laundering Act of 2020. John will provide an synopsis of the AML Act of 2020 as well as hold an open dialogue about current initiatives within the industry.   The event will cover an overview of key aspects of the legislation and will likely focusing on the following themes in the changing regulation:
 

  • Codification of the risk-based approach to AML/CFT compliance

  • Obsolete regulations and guidance, and broadening the BSA’s reach to confront emerging money laundering threats

  • Expanding enforcement- and investigation-related authority, including a significant expansion in the authority to subpoena foreign banks that maintain correspondent accounts with U.S. banks

  • Beneficial ownership disclosure, including reporting requirements for certain corporations and limited liability companies

  • Emphases on coordination and information-sharing among and between financial institutions 

  • Balancing financial inclusion and de-risking concerns with AML/CFT program goals

Credits

1 ACAMS Credit **Please note that ACAMS credit for this virtual event is available to members of the Chapter only.