Search Results for keywords:"Anti-Money Laundering Act of 2020"

The Occupational Safety and Health Administration (OSHA) has released an interim final rule to manage the handling of retaliation complaints under the Anti-Money Laundering Act of 2020 (AMLA), as part of anti-retaliation efforts. This rule outlines procedures for filing complaints, the investigation process, and the resolution, including possible appeals and judicial review, in cases of alleged retaliation against whistleblowers. The interim final rule is effective from January 14, 2025, and comments are invited until March 17, 2025, to refine these guidelines. The document ensures whistleblowers are protected when they report actions they reasonably believe to be violations of law, though it excludes employees of federally insured banks and credit unions, which are protected under different statutes.

The Financial Crimes Enforcement Network (FinCEN) published a proposed rule on December 23, 2020, aimed at implementing new reporting and recordkeeping requirements for transactions involving convertible virtual currency (CVC) and legal tender digital assets (LTDA). These requirements are part of efforts to address illicit financial activities such as money laundering and the financing of terrorism. The proposal includes mandatory reporting for transactions over $10,000 involving these assets, as well as maintaining records for transactions over $3,000. In response to public feedback, FinCEN has reopened the comment period to gather more input on these proposals and their implications for financial institutions, technology, and regulatory compliance.