The Financial Crimes Enforcement Network (FinCEN) has proposed a plan to issue anti-money laundering (AML) guidance every two years to encourage financial institutions to align their Bank Secrecy Act (BSA) compliance programs with the agency’s enforcement priorities.
The proposal, according to a notice of rulemaking published by FinCEN on Wednesday, is to have financial institutions reallocate resources within their BSA compliance programs so that they “address areas of risk and national AML priorities.”
