Show Notes
In this week’s episode of This Week in AML, with Elliot traveling, Joe McNamara joins John Byrne to break down a busy week in global compliance news.
The big domestic story is the Corporate Transparency Act, where the House Financial Services Committee passed a bill to repeal the CTA for domestic entities - but only by a single vote. The hosts unpack what that means, where the legislation goes from here, and why a separate threat to withhold FinCEN's entire budget adds another layer of uncertainty to an already complicated picture.
North of the border, Canada's FINTRAC has rolled out updates to its administrative monetary penalty framework, including a notable elevation of certain compliance program violations from serious to very serious.
Internationally, Transparency International had a busy week - launching a new Anti-Corruption Resource Center, announcing the EU's first Anti-Corruption Directive, and publishing a working paper on professional enablers implicated in illicit financial flows from Africa. AMLA is also moving forward with two public consultations on risk assessment and compliance standards, with hearings scheduled for May 20th and May 28th.
Across the pond, the FCA is pressing ahead with the UK's crypto regulatory regime, targeting October 2027 for full implementation - with rules expected this summer and firm authorization applications opening in September 2026.
The episode closes with a look at FATF's latest ministerial declaration, a heads-up on OCCRP's coverage of the CTA repeal, and a walkthrough of FinCEN's 2025 Year in Review - a document the hosts recommend as essential reading for any BSA professional.
Plus, a preview of AML RightSource's upcoming May webinar on global financial access and a recent AML Conversations episode featuring former IRS CI Special Agent in Charge Paul Camacho.
More from AML Conversations
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