Treasury Surveys Banks on Dirty Money Compliance Costs
Published Date: 4/28/2026
Notice
Summary
The Treasury is launching a new, voluntary survey to find out how much it costs financial companies to follow anti-money laundering and terrorism-fighting rules. This info will help decide if any rules can be simplified without hurting safety. If you work at a bank or similar company, you might get asked to share your experience by May 28, 2026.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Voluntary AML/CFT Cost Survey for MSBs
If you run a money services business (MSB) or another non‑bank financial firm, FinCEN is launching a voluntary survey asking about the costs of following anti‑money laundering and counter‑terrorist financing (AML/CFT) rules. FinCEN expects to pilot the survey through MSB trade associations, estimates 7,457 responses (about 30% of 24,856 principal MSBs), expects each response to take about 8 hours, and estimates total annual burden of 59,656 hours (with a broader potential population of 354,172 NBFIs).
Data May Inform Deregulatory Actions
Treasury says the cost information gathered may help assess the cumulative impact of AML/CFT rules and may inform efforts to adjust regulatory obligations or develop deregulatory rulemakings or guidance intended to reduce compliance burden without compromising AML/CFT effectiveness. The notice cites consistency with Executive Orders on deregulation.
Survey Responses Not for Enforcement Use
FinCEN says responses to the AML/CFT costs survey are voluntary and will not be used for supervisory or enforcement purposes. This means firms providing information should not expect the survey replies to trigger enforcement actions.
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