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Compliance Accelerated
Parcha.com
8 episodes
5 days ago
Compliance Accelerated is a podcast by Parcha exploring the future of fintech, banking and compliance in the age of AI.
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Technology
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All content for Compliance Accelerated is the property of Parcha.com and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Compliance Accelerated is a podcast by Parcha exploring the future of fintech, banking and compliance in the age of AI.
Show more...
Technology
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The 50-Year Evolution of AML Laws That Shaped Modern US Financial Compliance
Compliance Accelerated
22 minutes 40 seconds
12 months ago
The 50-Year Evolution of AML Laws That Shaped Modern US Financial Compliance

The podcast 'Compliance Accelerated' by Parcha AI, hosted by AI personas Alice and Bob, explores five decades of Anti-Money Laundering (AML) legislation. Beginning with the Bank Secrecy Act (BSA) of 1970, which introduced the Currency Transaction Report (CTR) to monitor large cash movements, it tracks the evolution through the Money Laundering Control Act (MLCA) of 1986, making money laundering a federal crime and introducing strict penalties. The podcast also discusses the impact of the 9/11 attacks leading to the USA Patriot Act of 2001, which emphasized 'Know Your Customer' (KYC) protocols. The rise of fintech and cryptocurrency posed new challenges, addressed by the FinCEN Customer Due Diligence (CDD) Rule in 2016 and culminating in the Anti Money Laundering Act of 2020 (AMLA), which created a centralized beneficial ownership registry and brought cryptocurrency companies under AML regulation. The episode highlights how technology, especially AI, plays a critical role in modern AML compliance and the evolving role of compliance professionals in this high-stakes, data-driven environment.

Compliance Accelerated
Compliance Accelerated is a podcast by Parcha exploring the future of fintech, banking and compliance in the age of AI.