The Anti-Money Laundering Act of 2020 (AMLA 2020) became law in early January, with major implications across institutional finance, including FinTechs. It introduced the biggest changes to the AML regime since the PATRIOT ACT of 2001 and was passed with strong bipartisan support.
Taken from: Traders Magazine
https://www.tradersmagazine.com
“FinTechs with US operations should closely analyze AMLA 2020, as it will require both changes to their AML programs and controls, and impact how they manage their operations, employees and risks.”
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https://www.tradersmagazine.com/am/implications-of-anti-money-laundering-act-of-2020-for-fintechs/
