Originally Presented: July 7, 2021
The Anti-Money Laundering Act of 2020 (AMLA) may usher in the most profound changes to the BSA/AML regime since the USA PATRIOT Act of 2001. By broadening the purpose of the BSA, the Act aims to modernize AML/CFT laws and pivot America from a U.S.-focused regulation and compliance regime to a global, public-private partnership focused on fighting all financial crimes.
In this special rebroadcast, Jim Richards, former Director of Financial Crimes Risk Management at Wells Fargo, and Corey Lynch, Product Expert at Verafin, host an engaging discussion on the AMLA and the future of anti-financial crime. These industry experts explore the history of the BSA and developments leading to the AMLA, potential implications for financial institutions, and the impact on anti-financial crime programs in the future.
Highlights from this event include:
- Implications for Suspicious Activity Reports and the reporting regime
- How innovation and technology may accelerate the modernization of AML
- The way forward towards collaborative, public-private partnerships and information sharing