AML/CFT, Bank Secrecy Act and Sanctions

Under the current U.S. anti-money laundering and counter terrorist financing (AML/CFT) regime, the nation’s financial firms are responsible for combatting illicit finance threats through compliance with the Bank Secrecy Act, its implementing regulations and guidance (BSA/AML), and the Office of Foreign Assets Control’s (OFAC) sanctions programs. TCH is committed to working to inform policy efforts to develop and support improvements to the current AML/CFT statutory and regulatory framework, with a focus on ensuring that it effectively addresses the illicit finance threats of the 21st century.