Banks welcome US overhaul of AML rules

Proposals signal shift to risk-based approach to financial crime detection

US Treasury
The US Treasury, home to the Financial Crimes Enforcement Agency

Banks have given a cautious welcome to US moves to overhaul the country’s approach to the enforcement of anti-money laundering (AML) controls. The proposal is viewed by lenders as an acknowledgment that the current system for stemming the flow of illicit finance isn’t working, and that it’s in need of reform.

The Financial Crimes Enforcement Agency (FinCen), a unit of the US Treasury, issued a proposed rule on September 17, calling on banks to develop “effective and reasonably designed” AML

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here