ANALYSIS: Domestic Violent Extremists Rise as AML/CFT Priority

The assault on the U.S. Capitol on Jan. 6 elevated the national security significance of domestic extremism, and U.S. anti-money laundering/countering the financing of terrorism (AML/CFT) policies are evolving accordingly. Recent Biden Administration actions make clear the government’s expectation that financial institutions will act as monitors of financial activity by extremists. These initiatives, combined with related Bank Secrecy Act (BSA) regulatory actions currently in progress, may add substantially to BSA compliance burdens by the end of the year.

U.S. AML/CFT Priorities

The international terrorist attacks of Sept. 11, 2001, transformed U.S. anti-money laundering regulation, created by the Bank Secrecy Act ...