The guidance reflects the agencies’ supervisory oversight and their examinations of financial institutions’ third-party risk management practices.
Rule Overview
Jurisdiction: United States
Regulator: US Dept. of Treasury, FinCEN
Topic: Risk Management
31 USC Section 5335Enacted as part of the Anti-Money Laundering Act of 2020 (AMLA) Section 6313, this law prohibits people from concealing the source of certain assets or funds in transactions involving financial institutions.
Key points:
The guidance reflects the agencies’ supervisory oversight and their examinations of financial institutions’ third-party risk management practices.
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