New Rules Proposed to Fight Money Laundering Better
Published Date: 4/10/2026
Proposed Rule
Summary
FinCEN is shaking up the rules for banks and financial companies to fight money laundering and terrorism funding better. They want these businesses to have stronger, clearer programs that help catch bad guys faster and work smoothly with law enforcement. If you’re in finance, get ready to update your systems and share your thoughts by June 9, 2026—this could change how you handle money and security, with big impacts on compliance costs and oversight.
Analyzed Economic Effects
6 provisions identified: 1 benefits, 4 costs, 1 mixed.
New Effective, Risk-Based AML Programs
FinCEN proposes that covered financial institutions must establish and maintain an ‘‘effective’’ anti‑money laundering and countering the financing of terrorism (AML/CFT) program and adopt the AML Act expectation that programs be risk‑based. The rule would require institutions to direct more attention and resources toward higher‑risk customers and activities consistent with the institution's risk profile.
Smaller Firms Face Larger Compliance Burden
Comments cited in the rule say the proposed changes could increase costs and burdens, particularly for smaller financial institutions, including costs to update AML programs to incorporate national priorities. In response to the prior (withdrawn) 2024 NPRM, many commenters asked for more than a six‑month implementation period—requesting at least one year or two or more years for compliance.
FinCEN Gains Enhanced Supervision Role
The proposed rule would enhance FinCEN's role in AML/CFT supervision and enforcement for banks by creating a mechanism for FinCEN to review and provide feedback to Federal banking regulators before a significant supervisory action. This aims to promote more consistent supervisory approaches for banks' AML/CFT programs.
U.S.-Based Responsibility for AML Duties
The proposed rule reiterates the statutory requirement that the duty to establish, maintain, and enforce an AML/CFT program must be performed by persons in the United States who are accessible to and subject to oversight by the Secretary and appropriate Federal functional regulator. This explicitly affects financial institutions with AML/CFT responsibilities performed outside the United States.
AML/CFT Priorities Must Be Incorporated
Section 6101(b) requires the Secretary to establish government‑wide AML/CFT priorities and the proposed rule would incorporate the AML/CFT Priorities into financial institutions' program requirements and supervision. The statute requires updating the AML/CFT Priorities not less frequently than once every four years.
Aim to Reduce Debanking, Protect Access
The proposed rule emphasizes a risk‑based approach intended to let financial institutions avoid blanket ‘‘de‑risking’’ or debanking and to extend services to underbanked customers based on evaluated ML/TF risk. FinCEN says the rule would help ensure account‑closure decisions are based on legitimate ML/TF risks and relevant facts.
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Key Dates
Department and Agencies
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