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US bipartisan group advances Enablers Act to amend AML laws requiring DNFBPs report suspicious activity to Treasury

By Elizabeth Hearst for AMLi

A bipartisan group of US lawmakers have cleared the way for a groundbreaking bill which would see companies, lawyers, art dealers and others subject to suspicious activity reporting requirements. 

The Enablers Act, would amend the current Bank Secrecy Act (BSA) established in 1970, and would require designated non-financial businesses and professions (DNFBPs) to report suspicious activity to the US Treasury Department.

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