New U.S. Law's Impacts on Non-U.S. Financial Institutions | K2 Integrity
To embed, copy and paste the code into your website or blog: The U.S. Anti-Money Laundering Act of 2020 (AML Act) became law on January 1 when the United States Congress passed the broader National Defense Authorization Act for 2021 over a presidential veto. Although it is a U.S. law, it is critical that non-U.S. financial institutions, particularly those that rely on U.S. correspondent banking relationships or transact in U.S. dollars, understand how the AML Act will impact them—both directly and by shaping U.S. actors’ expectations for their foreign partners. In general, the AML Act aim...
Source: jdsupra.com