Global Financial Integrity

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Changes to Anti-Money Laundering Efforts Expected with Passage of NDAA


With the expected passage of the 2020 National Defense Authorization Bill there will be many changes to anti-money laundering efforts in the future. FinCEN’s duties and powers will be expanded, there will be updates to the Bank Secrecy Act and new transparency measures including mandatory reporting of beneficial ownership information, among others. A handy overview of changes included in the bill are provided below in red.

(With permission from Jim Richards of Reg Tech Consulting –