Anti-Money Laundering Act of 2020

Act 2020

Issued by Financial Crimes Enforcement Network

Plain-English summary

Amends the Bank Secrecy Act framework. FinCEN's page lists its AML/CFT priorities (Sec. 6101), a whistleblower programme (Sec. 6314), the Corporate Transparency Act and beneficial ownership reporting (Title LXIV, Secs. 6401-6403), a SAR sharing pilot (Sec. 6212) and no-action letters (Sec. 6305).

Who it applies to

Banking · Capital Markets · Payments & Fintech · Crypto / VDA

Topics

AML / CFT / Sanctions Employment & Whistleblowing

Official source

Latest news

US sanctions bill targets Russian energy sector under Graham legislation 3 Oct 2026
Proposed United States legislation aims to impose sanctions targeting Russia's energy infrastructure and related financial flows. Named in honor of the late Senator Lindsey Graham, who was a prominent Ukraine aid…
AUSTRAC Examines Western Union AML Controls and Transaction Monitoring 26 Sep 2026
Australia's financial intelligence unit has initiated a formal investigation into Western Union's anti-money laundering framework and compliance infrastructure. The regulatory examination focuses on the company's…
RBI penalizes Ola Financial Services for KYC compliance failures 25 Sep 2026
The Reserve Bank of India imposed a monetary penalty of ₹3.10 lakh on Ola Financial Services Private Limited for non-compliance with KYC directions under the Payment and Settlement Systems Act, 2007. Following a…