The Anti-Money Laundering Act of 2020

How and When it Might Affect You

By Ellen Zimiles, Alma Angotti

Overview of the Anti-Money Laundering Act of 2020 (AMLA)

The AMLA is contained in Division F of the National Defense Authorization Act, which was signed into law on January 1, 2021.   

The AMLA is intended to clarify and streamline certain anti-money laundering (AML) and Bank Secrecy Act (BSA) obligations and is intended to strengthen, modernize, and improve compliance programs by:


Titles in the Anti-Money Laundering Act of 2020

The AMLA is divided into the following five titles:


AMLA Timelines

As noted below, certain provisions of the AMLA became effective on January 1, 2021, with other provisions becoming effective at later dates.  Additionally, the AMLA commissions a number of regulatory studies and reports, the ultimate effects of which are currently unknown, but may result in issuance of guidance, new requirements, or amendments to existing requirements.

Financial institutions should consider how they will: (1) address new regulatory requirements; and (2) be proactive in terms of potential future changes based on the various provisions in the AMLA, such as the findings from conducting various studies and reports.

Ellen Zimiles, Partner and Segment Leader

Alma Angotti, Partner

Let Us Help Guide You

Complexity demands a trusted guide with the unique expertise and cross-sector versatility to deliver unwavering success. We work with organizations across regulated commercial and public sectors to catalyze transformation and pioneer new directions for the future.

Stay ahead of the curve with news, insights and updates from Guidehouse about issues relevant to your organization and its work.