US financial regulators have proposed a rewrite of the rules governing bank anti-money laundering programmes, raising the legal standard from one that is merely "reasonably designed" to one that is "effective, risk-based and reasonably designed".
The Financial Crimes Enforcement Network (FinCEN) issued its notice of proposed rulemaking in April 2026, with the Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the National Credit Union Administration putting forward aligned proposals of their own. Under the plans, financial institutions would be expected to direct compliance resources towards higher-risk customers and activities in line with their risk profile, rather than spreading effort evenly across their books.
The proposals would consolidate existing requirements tied to the purpose of the Bank Secrecy Act. They would also require that responsibility for establishing, maintaining and enforcing a programme rest with a person based in the United States who is accessible to, and overseen by, the Treasury and the relevant federal regulator. FinCEN, led by director Andrea Gacki, has proposed a 12-month implementation period once any final rule takes effect.
The rulemaking follows a letter from Republican lawmakers pressing FinCEN to modernise AML requirements, raise reporting thresholds and support the use of artificial intelligence in monitoring for illicit activity. The public comment period closed on 9 June 2026.
