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On 1 January 2021, Congress passed the most significant expansion of the Bank Secrecy Act (BSA) in nearly 20 years, the National Defense Authorization Act (NDAA). Broadening and updating the U.S. anti-money laundering/combating the financing of terrorism (AML/CFT) regime, the NDAA will further protect the U.S. financial system and national security.

Join moderator Steven Lewis of Woori Bank and a panel of K2 Integrity experts including Gabriel HidalgoHeather Olsson, and Sarah Watson as they examine the consequential elements of the bill, including:

  • The expansion of FinCEN’s role in combatting illicit finance
  • The implications and limitations of the new beneficial ownership reporting requirement for companies
  • The establishment of an Innovation and Technology subcommittee to encourage innovation and information sharing
  • Potential priorities coming out of the midyear FinCEN report and considerations for banks undergoing annual risk assessments

To view this webinar on demand, click here, complete the required fields, and click “Submit.”