FinCEN Seeks Public Feedback on Enhancing the Effectiveness of Anti-Money Laundering Programs
The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions pertaining to potential regulatory amendments under the Bank Secrecy Act. The proposals under consideration are intended to provide financial institutions greater flexibility in the allocation of resources and greater alignment of priorities across industry and government, resulting in the enhanced effectiveness and efficiency of anti-money laundering programs. Comments from all interested parties will help inform the scope of any future regulatory actions and should be submitted within 60 days of the ANPRM’s publication in the Federal Register.