FinCEN has recently released its plans to conduct a formal review of BSA regulations and related guidance, as mandated by Section 6216 of the Anti-Money Laundering Act of 2020, in hopes to strengthen US UBO and AML rules.

They plan to learn more about how to modernise risk-based AML/CFT laws and the subsequent advice published under the Bank Secrecy Act (BSA) so that they can continue to defend US national security in a cost-effective and efficient manner.

Download the full report to discover the latest movements from FinCEN and how they will impact your compliance functions as well as how can a contingent workforce help you achieve strengthened UBO and AML systems and processes.

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