The Financial Crimes Enforcement Network has been busy lately, and has issued a flurry of proposed rulemakings and requests for comment. Although “reform” is often in the eye of the beholder, all of these proposals will have a practical impact.

As part of Ballard Spahr’s webcast series, Consumer Financial Services in Turbulent Times, we will present a webinar on these developments on Friday, December 11, 2020 from 10:00 a.m. to 11 a.m. ET.  The webinar, entitled The Future of the Bank Secrecy Act: Regulatory Developments and Reform, will discuss:

  • An advanced notice of proposed rulemaking on regulatory amendments regarding “effective and reasonably designed” AML programs;
  • A request for comment on existing regulations regarding due diligence for correspondent bank accounts;
  • The final rule extending BSA/AML regulatory requirements to banks lacking a Federal functional regulator; and
  • A request for comment on a proposed rule that would expand significantly the “Recordkeeping Rule” and “Travel Rule” under the BSA.

To register, please click here.

If you would like to remain updated on these issues, please click here to subscribe to Money Laundering Watch. Please click here to find out about Ballard Spahr’s Anti-Money Laundering Team.