Major changes in AML compliance and enforcement: A review of 2020

2020 was an eventful year in anti-corruption enforcement; from Airbus to Goldman Sachs and numerous matters in between. In the anti-money laundering (AML) arena, there were even bigger news the last week of the year with the passage of the U.S. National Defence Authorization Act (“NDAA”) and as part of that legislation, the enactment the Anti-Money Laundering Act of 2020 (“AMLA”) into law.  Pursuant to Thomas R. Fox, a consultant assisting companies with anti-bribery and anti-corruption compliance, the AMLA would be the most comprehensive set of reforms to the anti-money laundering laws in the United States since the USA PATRIOT Act was passed in 2001, in response to 9/11.

In two recent articles, the author recaps the events of 2020 and lays out the new opportunities for businesses. Find here Part 1 and Part 2 of his review.

 

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