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Anti-Money Laundering Act of 2020 (AMLA) – what are the changes and what do they mean?

Anti-Money Laundering Act of 2020 (AMLA) – what are the changes and what do they mean?

On January 1 2021, the United States Congress passed the National Defense Authorization Act for Fiscal Year 2021 (the NDAA) which includes the most significant reforms to US Anti-Money Laundering (AML) laws in almost 20 years.

Known as the Anti-Money Laundering Act of 2020 (AMLA), the new regulations have been put in place to further strengthen US defenses against the threat of money laundering and other financial crime. 

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