Expanded compliance obligations will have far-reaching implications for regulated financial institutions and most companies operating in the US.
On January 1, 2021, Congress overrode President Trump’s veto and enacted the National Defense Authorization Act for Fiscal Year 2021, an omnibus bill that includes the Anti-Money Laundering Act of 2020 (the Act). The Act represents a significant development in US anti-money laundering laws.
This Client Alert highlights five key takeaways from the Act.
Please see full Alert below for more information.