Stricter AML rules for US antiquities dealers set to be introduced

News Team, 28/09/2021

The Financial Crimes Enforcement Network (FinCEN), an agency of the US Department of the Treasury, has issued an advance notice of proposed rulemaking to solicit public comment on the implementation of the Anti-Money Laundering Act of 2020 (AMLA) as to the antiquities trade in the US. 

The AMLA amends the Bank Secrecy Act of 1970 (BSA), the federal statute largely applicable to the financial industry, to include in the definition of “financial institution” a “person engaged in the trade of antiquities, including an adviser, consultant, or any other person who engages a...

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