FinCEN Implementation Lax, Senators Say

Posted 2/6/24

A Bipartisan group of Senators has penned a letter to Andrea Gacki, Director of the Financial Crimes Enforcement Network (FinCEN), expressing serious concerns about the delay in implementing the Anti-Money Laundering (AML) Whistleblower Improvement Act.

Senators Chuck Grassley (R-IA), Elizabeth Warren (D-CA), and Raphael Warnock (D-GA) wrote noting the Act, passed passed over three years ago as part of the Corporate Transparency Act and later strengthened in 2022, aimed to incentivize whistleblowers to report sanctions violations and combat money laundering effectively.

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