The Financial Crimes Enforcement Network issued the first government-wide priorities for anti-money-laundering and counter-financing-terrorism policy.
Priorities: The priorities identify and describe the most significant AML/CFT threats facing the United States, including corruption, cybercrime, and domestic and international terrorist financing.
Guidance: FinCEN and other regulators also issued guidance to covered financial institutions on how the priorities apply before regulations are promulgated.
What’s Next: FinCEN said it will propose implementing regulations in the coming months and will update the priorities at least once every four years, as required by the AML Act.