2021 Ohio Bankers Day

ACTIONS TO DATE

• In accordance with Section 6211, FinCEN briefed the Senate Committee on Banking, Housing, and Urban Affairs and House Committee on Financial Services on the use of emerging technologies, including issues specified under the statute concerning artificial intelligence, digital identity technologies, distributed ledger technologies, and other innovative technologies, including best practices or significant concerns with respect to U.S. efforts to combat money laundering and other forms of illicit finance. • FinCEN issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). Comment period closed May 5 and comments are currently under review.

DELIVERABLES

• Publish AML/CFT Priorities (Section 6101) • Issue first semi-annual publication of threat pattern and trend information (Section 6206) • Submit to Congress No Action Letter Assessment (Section 6305)