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ARTICLE · 10 AUGUST 2021

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Money Laundering Enforcement Trends: Summer 2021

Miller & Chevalier Chartered
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All of this portends a busy second half of 2021 for regulatory developments in AML enforcement in the United States.

GlobalGovernment, Public Sector
Miller & Chevalier Chartered
Miller & Chevalier Chartered

Introduction

Money laundering enforcement in the U.S. continues to be a government priority, as evidenced by the fact that regulators are implementing the Anti-Money Laundering Act 2020 (AMLA) and the Corporate Transparency Act (CTA). These laws, which were enacted in January, require important changes to the regulatory and enforcement landscape supporting U.S. anti-money laundering (AML) efforts, provide for a significant increase in funding for government AML initiatives, and require companies beyond traditional financial institutions to comply with AML requirements. 

The Financial Crimes Enforcement Network (FinCEN) has been active. Since the start of the year, FinCEN has (1) identified national priorities for combatting money laundering, (2) commenced the rulemaking process for the establishment of a beneficial ownership registry, (3) issued a report to Congress regarding the need for a no-action letter process, (4) warned arts and antiquities dealers of new

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