The Federal Reserve Board has requested comment on proposed amendments to its anti-money laundering program requirements for banks. The proposal would align the Board’s framework with anti-money laundering program changes separately proposed by four other agencies and would shift expectations toward a more risk-based approach, requiring banks to direct more resources to higher-risk customers and activities and to incorporate the Financial Crimes Enforcement Network’s anti-money laundering priorities into their risk assessment processes. The proposal also sets out how the Board would approach oversight once a bank has established an anti-money laundering program. Supervision and enforcement would focus on significant failures to implement that program rather than on the mere existence of a formal framework. Comments are due 60 days after publication in the Federal Register.
Federal Reserve Board2026-07-07
Federal Reserve Board seeks comment on risk based anti money laundering program changes for banks
The Federal Reserve Board is consulting on amendments to its anti-money laundering program requirements for banks. The proposal would require a more risk-based allocation of AML resources and the integration of Financial Crimes Enforcement Network priorities into risk assessments. It would also focus Federal Reserve supervision and enforcement on significant failures to implement an established program.