Steps For Complying With FinCEN's New AML Priorities

By Satish Kini, Zila Acosta-Grimes and Jonathan Wong (August 25, 2021, 6:38 PM EDT) -- On June 30, the Financial Crimes Enforcement Network issued governmentwide priorities for anti-money laundering and countering the financing of terrorism[1] — or AML and CFT, respectively — as required by the Anti-Money Laundering Act.[2]

The priorities were issued with additional statements to banks[3] and nonbank financial institutions[4] on their expected use and applicability.

FinCEN's issuance of the priorities does not, in itself, change compliance obligations for financial institutions.

But, as also required by the AMLA, FinCEN will issue further regulations addressing how the priorities should inform AML and CFT compliance efforts.

To that end, in its statements accompanying the priorities, FinCEN noted that...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!