FinCEN Seeking Comments on Change to AML Regulations
The Treasury Department’s Financial Crimes Enforcement Network is seeking public comments on a proposed rulemaking related to its anti-money-laundering regulations, FinCEN said in a notice. The rule will amend the Bank Secrecy Act to include certain persons engaged in antiquities…
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trade in the definition of a “financial institution,” the notice said. Under the AML regulations, certain categories of financial institutions are required to “identify and verify the identity of beneficial owners of legal entity customers.” Comments are due Oct. 25.