Public Law 116-283, Division F

E65822

United States federal statute division anti-money laundering legislation

Public Law 116-283, Division F is the section of the 2021 National Defense Authorization Act that enacted the Anti-Money Laundering Act of 2020, significantly overhauling the U.S. anti-money laundering and counter-terrorist financing framework.

Observed surface forms (1)

Surface form	Occurrences
Pub. L. 116-283, div. F	1

Statements (45)

Predicate	Object
instanceOf	United States federal statute division ⓘ anti-money laundering legislation ⓘ
alignsWith	international anti-money laundering standards ⓘ
amends	Bank Secrecy Act ⓘ Title 31 of the United States Code ⓘ
appliesTo	financial institutions subject to the Bank Secrecy Act ⓘ
chamberInvolved	United States House of Representatives ⓘ United States Senate ⓘ
codifiedIn	Title 31 of the United States Code ⓘ surface form: Title 31 United States Code
CongressNumber	116th United States Congress ⓘ
country	United States of America ⓘ surface form: United States
creates	beneficial ownership reporting regime for corporations and similar entities ⓘ corporate transparency requirements ⓘ
dateEnacted	2021-01-01 ⓘ
designatesAgency	Financial Crimes Enforcement Network ⓘ
enacts	Anti-Money Laundering Act of 2020 ⓘ
enhances	penalties for Bank Secrecy Act violations ⓘ whistleblower protections in anti-money laundering context ⓘ
establishes	federal beneficial ownership database ⓘ
focusesOn	closing gaps in corporate transparency ⓘ improving information sharing for anti-money laundering purposes ⓘ modernizing technology use in anti-money laundering compliance ⓘ
includes	Corporate Transparency Act provisions ⓘ
jurisdiction	United States government ⓘ surface form: United States federal government
legalCitation	Public Law 116-283, Division F self-linksurface differs ⓘ surface form: Pub. L. 116-283, div. F
legislativeBody	United States Congress ⓘ
mandates	risk-based approach to anti-money laundering compliance ⓘ
overrides	Presidential veto of Public Law 116-283 ⓘ
partOf	Public Law 116-283 ⓘ National Defense Authorization Act for Fiscal Year 2021 ⓘ surface form: William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021
purpose	improve detection and prevention of money laundering ⓘ improve detection and prevention of terrorist financing ⓘ modernize the U.S. anti-money laundering and counter-terrorist financing framework ⓘ reduce illicit use of the U.S. financial system ⓘ
relatedTo	Financial Action Task Force recommendations ⓘ
requires	periodic review and modernization of anti-money laundering regulations ⓘ reporting of beneficial owners of certain corporations and limited liability companies ⓘ
shortName	Anti-Money Laundering Act of 2020 ⓘ
signedIntoLawBy	Donald Trump ⓘ surface form: Donald J. Trump
strengthensAuthorityOf	Financial Crimes Enforcement Network ⓘ
subjectMatter	anti-money laundering ⓘ counter-terrorist financing ⓘ financial crime prevention ⓘ
typeOfChange	comprehensive overhaul of U.S. anti-money laundering framework ⓘ
yearOfEnactment	2021 ⓘ

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

AMLA 2020 → legalCitation → Public Law 116-283, Division F ⓘ

Public Law 116-283, Division F → legalCitation → Public Law 116-283, Division F self-linksurface differs ⓘ

this entity surface form: Pub. L. 116-283, div. F