Beautiful Virgin Islands

Monday, Jul 14, 2025

Financial Institutions Want More Clarity on Anti-Money-Laundering Changes

Financial Institutions Want More Clarity on Anti-Money-Laundering Changes

Financial-sector compliance professionals want more input from the government on how to make their anti-money-laundering programs effective.
Last year, regulators proposed amending U.S. anti-money-laundering rules to give financial institutions greater flexibility in the way they allocate resources within their compliance programs. While the industry in general supports the new standards, more detail is needed on what constitutes an effective compliance program, a survey of compliance professionals found.

The poll by the Association of Certified Anti-Money Laundering Specialists, released Wednesday, was conducted late last year following a September proposal by the U.S. Treasury Department’s Financial Crimes Enforcement Network to rework anti-money-laundering rules and before the enactment of new legislation in January.

What changes will come as a result of the new rules and legislation was top of mind among the professionals surveyed, said Kieran Beer, chief analyst at ACAMS. Of the approximately 340 professionals who responded, about 71% worked for financial institutions, according to ACAMS.

One takeaway from the survey is that compliance professionals hope government officials will provide clearer expectations on how financial institutions should comply with anti-money-laundering rules, said Larry Iwanski, a specialist in financial crimes compliance at the professional services firm Alvarez & Marsal Holdings LLC. “People want to know from the regulators a clear path of what they need to do,” he said.

FinCEN has proposed changing the definition of an effective compliance program to cover three key elements. One is a requirement that information provided to officials has a high degree of usefulness to the government authorities who are responsible for conducting investigations into financial crimes.

FinCEN’s proposed definition of an effective compliance program was generally viewed as adequate by respondents, but about three-fifths said more guidance was needed to understand it.

“I think there’s some frustration … about what exactly they need to do to have an effective program,” Mr. Iwanski said. Risk assessments were one area where respondents said they would like greater regulatory clarity, according to the survey.

A large majority of respondents also said that feedback from FinCEN on suspicious activity reports filed under anti-money-laundering rules would help shape the way such reports are filed, potentially increasing their value to law enforcement.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
×