A Look at Key Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Developments in 2021 and Expectations for 2022
The topics discussed include the historic changes made by the AML Act at the beginning of 2021, including the Corporate Transparency Act (CTA); the proposed FinCEN rules to implement the CTA’s beneficial ownership reporting requirements; the CTA’s implications for financial institutions’ customer due diligence compliance obligations; FinCEN’s list of priorities for AML and countering the financing of terrorism; potential AML regulation of the real estate industry; and expectations for future BSA/AML regulation and enforcement concerning virtual currency and digital assets.
Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts a conversation with Peter Hardy, a partner in the firm. A former federal prosecutor, Peter is a co-leader of the firm’s Anti-Money Laundering Team.
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