News

Nearly two years after the U.S. ranked domestic terrorism alongside seven other crimes whose finances constitute a national priority, financial institutions still cannot reliably identify payments tied to violent, homegrown extremists, compliance staff told ACAMS moneylaundering.com. U.S. officials listed both domestic and global terrorism as national anti-financial crime priorities in June 2021 pursuant to the Anti-Money Laundering Act of 2020, but missed the legislation's deadline to require banks and other financial institutions to regear their AML programs to account for them by 13 months and counting. The delay in finalizing such a policy and clarifying what constitutes the finances of...