Ransomware Is Top Of Mind As FinCEN Drafts AML Rules

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By Al Barbarino (January 13, 2022, 5:24 PM EST) — The acting head of the Financial Crimes Enforcement Network highlighted ransomware as a chief national security risk Thursday, noting that updating anti-money laundering regulations and increasing public-private communication will be crucial to help stamp out attacks that have hit “virtually every kind of American organization imaginable.”

In prepared remarks at the Financial Crimes Enforcement Conference, Him Das suggested that current anti-money laundering regulations aren’t sufficient to address the latest tech-driven threats, from cyber hacks to digital asset schemes. But imminent regulations under the Anti-Money Laundering Act of 2020, and ongoing private-public dialogues, will aim to do just that.

“The entire government…

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