There was a lot of hoopla surrounding the AML/CFT reform proposal when it was issued back in June 2024. The goal being to strengthen and modernize financial institutions’ anti-money laundering and countering the financing of terrorism (AML/CFT) programs. While financial institutions have long maintained AML/CFT programs under existing regulations, this proposed rule would amend those regulations to explicitly require that such programs be effective, risk-based, and reasonably designed, enabling financial institutions to focus their resources and attention in a manner consistent with their risk profiles. FinCEN didn’t move on this as quickly as expected and so 2025 was relatively quiet on this this front. We do; however, anticipate some action, by way of a final rule, sometime in 2026.
Kevin explains more in the video.
Published
2025/12/10