6/28/2024 -
FinCEN's latest proposal could revolutionize anti-money laundering programs for financial institutions. With a shift towards risk-based approaches and effectiveness over technical compliance, banks, credit unions, and payment vendors face significant changes. From mandatory risk assessments to enhanced training requirements, this article breaks down the key proposals and their potential impacts. Discover how these changes could reshape your AML strategy and what steps you should take to prepare for this regulatory evolution.
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