meta_id 3303661

On July 7, 2026, the Federal Reserve Board (FRB) requested comment on a proposal to amend its requirements for banks to maintain anti-money laundering and counter-terrorism financing (AML/CTF) programs. The amendments align with changes to AML/CTF program requirements separately proposed by four other agencies. The proposal introduces several key modifications to existing AML/CTF requirements. Banks would be required to focus their AML/CTF resources based on risk assessment, with heightened attention directed toward higher-risk customers and activities. The amendments also mandate that banks incorporate the Financial Crimes Enforcement Network's (FinCEN) AML/CTF priorities into their risk assessment processes. Additionally, the FRB would shift its supervisory and enforcement focus to concentrate on significant failures in program implementation, rather than technical compliance issues, once a bank has established an AML/CTF program. These changes represent a risk-based approach to AML/CTF compliance, allowing financial institutions to allocate resources more efficiently while maintaining robust protections against financial crime. The proposal affects all banks subject to FRB supervision and applies to their AML/CTF program requirements. The comment period closes 60 days after publication in the Federal Register. Interested parties, including banks, industry associations, and other stakeholders, should submit responses during this window. The FRB will review all comments received before finalising the amendments. For further information, the full Federal Register notice on Anti-Money Laundering and Countering the Financing of Terrorism Programs is available on the FRB website.