Kristin S. Teager

Jul 8, 2024 | lexology.com | Joel D Feinberg |David E Teitelbaum |Paul Tyrrell |Stanley J. Boris |Kristin S. Teager |Nicole Cary

On June 28, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a proposed rule (Proposed Rule) to strengthen and modernize financial institutions’ anti-money-laundering and countering the financing of terrorism (AML/CFT) programs.1 The Proposed Rule would amend FinCEN’s regulations to implement minimum components for AML/CFT programs required by the Anti-Money Laundering Act of 2020 (AML Act) as well as technical changes to promote clarity and consistency across the rules for...