Our Website Uses Cookies 

We and the third parties that provide content, functionality, or business services on our website may use cookies to collect information about your browsing activities in order to provide you with more relevant content and promotional materials, on and off the website, and help us understand your interests and improve the website.

For more information, please contact us or consult our Privacy Notice.

Your binder contains too many pages, the maximum is 40.

We are unable to add this page to your binder, please try again later.

This page has been added to your binder.

Trump Unlikely To Ease AML Burden, Say Experts

February 22, 2017, Payments Compliance

Michael Nonaka is quoted in a Payments Compliance article regarding financial crime regulation under President Trump amid Dodd-Frank reforms. According to Nonaka, “The conversation around deregulation hasn’t touched on anti-money laundering and terrorist financing compliance and enforcement.” The “strong nexus with law enforcement and border protection,” is why AML will likely remain outside the scope of any de-regulation program, he says. “It is consistent with President Trump’s campaign message and approach to a number of issues since his inauguration that anti-money laundering compliance and enforcement won’t necessarily be scaled back; it may even be built up more.”

Nonaka also notes that it is “hard to speculate” how the de-risking issue will develop under Trump “because it is a banking agency issue and committed to the agency’s supervisory direction.” He adds, “It is actually one of the areas where de-regulation and law enforcement collide, where you have broader efforts to de-regulate banks but also a potential increase in AML enforcement and regulation for law enforcement and border protection purposes.”


Share this article: