TITLE: United States Financial Crimes Enforcement Network Proposes Rule to Reform Anti-Money Laundering Programs BODY: On April 7, 2026, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a proposed rule designed to fundamentally reform financial institutions' anti-money laundering and countering the financing of terrorism (AML/CFT) programs under the Bank Secrecy Act (BSA). The proposal supports Treasury's efforts to modernize the U.S. AML/CFT regulatory and supervisory framework while reducing compliance burden on financial institutions. The proposed rule introduces several key reforms to AML/CFT program compliance and supervision. It refocuses compliance obligations on effectiveness by distinguishing between deficiencies stemming from program design and implementation. The rule reinforces that financial institutions are best positioned to identify and evaluate their illicit finance risks, and empowers them to devote greater resources toward higher-risk activities rather than lower-risk compliance activities. The proposal clarifies expectations related to program requirements and functions, including independent testing and audit functions, to ensure examiners and auditors do not substitute their subjective judgment for financial institutions' risk-based and reasonably designed AML/CFT programs. Additionally, it affirms FinCEN's central role in AML/CFT supervision through a notice and consultation framework between Federal banking supervisors and FinCEN regarding significant AML/CFT supervisory actions. The proposed rule revises FinCEN's regulations to reflect statutory changes made by the Anti-Money Laundering Act of 2020. It fully supersedes a prior proposed rule FinCEN published on July 3, 2024, which is being withdrawn. The comment period closes 60 days after publication of the notice of proposed rulemaking in the Federal Register. FinCEN welcomes public comment on the proposal.

FinCEN Proposes Rule to Fundamentally Reform Financial Institution Programs Designed to Fight Illicit Finance | FinCEN.gov

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