Anti-Money Laundering Act of 2020

In December 2020, Congress passed the Anti-Money Laundering Act of 2020, the most comprehensive revision of the money laundering provisions of the Bank Secrecy Act (31 U.S.C. 5311, et seq.) since the enactment of the USA Patriot Act in 2001.  The following are a two-page summary of the provisions of the Act that have a direct bearing on law enforcement, including the enactment of two new criminal offenses codified at 31 U.S.C. 5335 and 5336 and related asset forfeiture provisions, and a 20-page summary of the entire Act that was prepared by Jim Richards of RegTech Consulting, LLC.  The third link is to the complete text of the Act.

The first summary is an excerpt from the January issue of the Money Laundering and Forfeiture Digest.  For a subscription to the Digest, follow this link.

Anti-ML Act 2020 – Summary

Anti-ML Act 2020 – Jim Richards Summary

Anti-ML Act of 2020 – full text