News

U.S. lawmakers made sweeping revisions to the U.S. anti-money laundering regime only a week ago, but financial institutions may have to wait several months, if not years, for those changes to come into force and impact their day-to-day compliance obligations. On New Year's Day, the Senate voted 81-13 to override outgoing President Donald Trump's veto of the National Defense Authorization Act, or NDAA, an annual defense spending bill that separately mandates the establishment of a national database of beneficial owners, brings dealers of antiquities under the purview of the Bank Secrecy Act and overhauls federal examinations. The Treasury Department, and...