AML/CFT National Priorities
As you may recall, clear back in 2020 there was a push for anti-money laundering (AML) reform which really hadn’t been done since the U.S.Patriot Act. We got a proposed rule in November 2024 that sought to strengthen and modernize AML/CFT (Countering the Financing of Terrorism) programs as a whole. We expected a final rule in March 2025 but we’re still obviously waiting. Regardless of when the final rule comes,there are some things that will happen based on what the law requires. For example, all financial institutions are going to be required to have effective, risk-based, and reasonably designed AML/CFT programs; a risk assessment will be mandatory; and the AML/CFT national priorities, as designated by the federal government, will need to be incorporated into any risk assessment.
Kevin explains more in the video.
2026/02/04
Kevin Edwards
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).