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Anti-Money Laundering

Banks play an important role in the fight against money laundering and other financial crimes. ABA offers expertise and education to help banks better identify and report illicit financial activity and build effective AML programs.

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Tell the Senate: It's Time to Modernize Anti-Money Laundering Rules

The House has passed a bill that, among other things, would direct the Financial Crimes Enforcement Network to create a national database of businesses’ beneficial ownership information and enhance communications between banks and law enforcement. Now it's time for the Senate to pass similar, much needed, modernizing reforms. Urge the Senate to build on the momentum and move quickly to pass legislation to improve financial transparency and close a massive loophole in our country’s anti-money laundering network as well as enhance national efforts to combat money laundering and other forms of illicit finance.

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Urge the Senate to Pass the SAFE Banking Act

Thirty-three states now permit some form of legal cannabis commerce, but cannabis is still a banned narcotic under federal law. Since banks potentially face criminal prosecution if they provide financial services to these businesses, their employees or service providers, few of these legal businesses have access to banking. Current federal laws are forcing this rapidly growing multibillion-dollar industry to operate on a cash only basis, which is creating a public safety issue. Contact your senators and let them know that it’s time to resolve the conflict between federal and state law and provide banks with the clarity needed to serve state-licensed cannabis and cannabis related businesses.

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OCC Money Laundering Risk Assessment

On August 8, 2016 the OCC published a Paperwork Reduction Act (PRA) notice in the Federal Register, proposing to update and expand the use of its Money Laundering Risk Assessment (MLR) to all banks supervised by the agency.

Read the Staff Analysis

Related Training & Events

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ABA Resources

Unlock Your Guide to AML

This guide begins by summarizing basic principles of money laundering and terrorist financing, followed by discussions of U.S. legal and regulatory requirements, practical considerations in designing and maintaining effective compliance programs, and insights on the the relationship between AML/CFT compliance programs with overlapping areas of compliance, like fraud and cybersecurity. 

Read the Guide from Protiviti

Policy Analysis & Advocacy Efforts

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Money Laundering Regulatory Proposals

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