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TREAS/FINCEN RIN: 1506-AB42 Publication ID: Spring 2020 
Title: ●Promote Effective Outputs Based on AML Regime Priorities 
Abstract:

In line with ongoing U.S. Government public-private initiatives related to Bank Secrecy Act regulatory reform efforts, and consistent with the December 3, 2018, Joint Statement on Innovative Efforts to Combat  Money Laundering and Terrorist Financing, FinCEN is considering refocusing the AML regime to better position regulated institutions to provide highly useful information to government authorities.  Proposed changes will relate to issuing AML regime priorities to promote effective outputs over auditable processes and ensure clear standards for measuring effectiveness in the evaluation of BSA/AML programs.

 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
EO 13771 Designation: Deregulatory 
CFR Citation: 31 CFR ch. X     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 12 U.S.C. 1829b    12 U.S.C. 1951 to 1959    31 U.S.C. 5311 to 5314    31 U.S.C. 5316 to 5332   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  06/00/2020 
NPRM Comment Period End  08/00/2020 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
FinCEN Regulatory Support Section
Department of the Treasury
Financial Crimes Enforcement Network
P.O. Box 39,
Vienna, VA 22183
Phone:800 767-2825
Email: frc@fincen.gov