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There Is Middle Ground For US Lawyers On AML Regimes

Law360 (April 13, 2018, 12:22 PM EDT) -- The requirements for U.S. lawyers and law firms to report activities for purposes of monitoring money laundering and terrorist activities lag far behind the anti-money laundering and suspicious activity reporting regimes — or AML and SAR regimes, respectively — imposed upon lawyers in the European Union and the United Kingdom. The American Bar Association continues to oppose legislation that would impose some AML requirements on U.S. lawyers. The ABA should further consider its approach to this issue, as there is a viable middle ground that protects...
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