United States Congress
United Against Transnational Criminal Organizations Act
August 1, 2023
Summary
The United Against Transnational Criminal Organizations Act imposes enhanced anti-money laundering (AML) requirements on financial institutions, including mortgage lenders, to prevent illicit financing. It expands customer due diligence and beneficial ownership reporting obligations, and increases penalties for non-compliance. Lenders must update their AML compliance programs and training to address new reporting thresholds and verification procedures.
AI-generated summary · Jul 9, 2026. Verify with your compliance counsel before acting.
How this was generated
We record the exact prompt, model, and output for every AI response so it can be audited for accuracy.
Source: https://www.congress.gov/bill/118th-congress/hr-bill/5132
Common questions
- What does "United Against Transnational Criminal Organizations Act" cover?
- The United Against Transnational Criminal Organizations Act imposes enhanced anti-money laundering (AML) requirements on financial institutions, including…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on August 1, 2023.
Related updates
- OCC AA-CE-2026-11 — Order of Prohibition
- Ultralight FS,. Inc., formerly known as Obopay, Inc., also doing business as Obopay USA
- Updated Nonbank Ransomware Self-Assessment Tool (R-SAT)
- Consent Order Block Inc.
- Pionex, Inc. Consent Order issued by the Division of Banking
- Two Ocean No-Action Letter: Digital Asset Custody & Qualified Custodian Status