Update: Congress Seeks to Impose AML Obligations on CPAs, Investment Advisors, Law Firms, and Others

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On July 7, 2022, Arnold & Porter published an Advisory on the Establishing New Authorities for Businesses Laundering and Enabling Risks to Security Act (ENABLERS Act) that was attached to the National Defense Authorization Act on June 23, 2022. Since the previous Advisory, the House has made substantial amendments to the ENABLERS Act, particularly with the shift in focus from covered professions to specific categories of services that would be subject to the due diligence and reporting obligations under the Bank Secrecy Act. This Advisory highlights the recent amendments.

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Risk Management
Fraud
Bank Secrecy Act

Update: Congress Seeks to Impose AML Obligations on CPAs, Investment Advisors, Law Firms, and Others

In Depth

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