ABSTRACT

U.S. Efforts to Combat Money Laundering, Terrorist Financing, and Other Illicit Financial Threats: An Overview [Updated January 4, 2022]   [open pdf - 517KB]

From the Document: "The United States maintains a multifaceted policy regime for tackling anti-money laundering (AML), combating the financing of terrorism (CFT), and countering illicit financial threats. Key issues for the 117th Congress may include oversight of the U.S. government's legal, regulatory, enforcement, and diplomatic AML/CFT effort--with special focus on the Biden Administration's implementation of significant changes to the AML/CFT regime enacted as part of the William M. (Mac) Thornberry National Defense Authorization Act FY2021 (NDAA; P.L. [Public Law] 116-283). [...] Several provisions of the FY2022 NDAA (P.L. 117-81) address AML concerns, including with respect to Russian money laundering (Section 6106), the delegation of BSA [Bank Secrecy Act] examination authority (Section 6107), and updates to the National Strategy for Combating Terrorist and Other Illicit Financing (Section 6506)."

Report Number:
CRS In Focus, IF11064
Author:
Publisher:
Date:
2022-01-04
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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