AMLA Information-Sharing And Privacy And Data Security Concerns - Privacy
Sixth Post in an Extended Series on Legislative Changes to BSA/AML Regulatory Regime As we have blogged, the Anti-Money Laundering Act of 2020 ("AMLA") contains major changes to the Bank Secrecy Act ("BSA"), coupled with other changes relating to money laundering, anti-money laundering ("AML"), counter-terrorism financing ("CTF"), and protecting the U.S. financial system against illicit foreign actors. A recurring theme of the changes offered by AMLA is information sharing. AMLA mandates that the Department of Treasury's supervision priorities must include "appropriate frameworks for informat...
Source: mondaq.com