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Code · BILL · 116th Congress · H.R. 2514 (Reported in House) — To make reforms to the Federal Bank Secrecy Act and anti-money laundering laws, and for other purposes. · Sec. 202

Sec. 202. Training for examiners on AML/CFT

182 words·~1 min read·/bill/116/hr/2514/rh/section-202·

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Subchapter II of chapter 53 of title 31, United States Code, is amended by adding at the end the following: Each Federal examiner reviewing compliance with the Bank Secrecy Act shall attend at least 10 hours of annual training on anti-money laundering
(AML)and the countering of the financing of terrorism (CFT), including— potential risk profiles and red flags that may be encountered during examinations; financial crime patterns and trends; the high-level context for why AML and CFT programs are necessary for law enforcement agencies and other national security agencies, and what risks the programs seek to mitigate; and de-risking and its effect on the provision of financial services. The Secretary of the Treasury shall, in consultation with the Financial Institutions Examination Council, the Financial Crimes Enforcement Network, and State, Federal, and Tribal law enforcement agencies, establish appropriate training materials and standards for use in the training required under subsection (a). . The table of contents for chapter 53 of title 31, United States Code, is amended by inserting after the item relating to section 5332 the following: 5333. AML/CFT Training. .
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