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Email On January 1, 2021, Congress enacted the Anti-Money Laundering Act of 2020 (the “Act”). As part of the National Defense Authorization Act for Fiscal Year 2021, the Act creates a broad range of new anti-money laundering (“AML”) obligations for banks and other financial institutions, certain private investment structures, and even federal regulators. https://www.cadwalader.com/resources/clients-friends-memos/the-anti-money-laundering-act-of-2020-new-challenges-for-financial-institutions-their-employees-and-customers-and-nearly-everyone-else