Anti-Money Laundering Act of 2020

During this program your directors will receive an overview of the Anti-Money Laundering Act of 2020 that was passed in 2021. It will have great implications into your future BSA programs. This session covers de-risking, national data base for beneficial ownership, higher fines and penalties for BSA and Keep Open Directives from law enforcement. It is a good update of this massive bill and will count towards your BSA Director's Training.

Covered Topics:

  • Division F - Anti-Money Laundering
  • New BSA Purposes
  • De-Risking
  • Keep Open Orders and Other FAQs Released
  • National Beneficial Ownership Registration Awaiting Regulation
  • SAR and CTR Trends
  • Sharing Compliance Resources
  • FinCEN Sanctions and Fines