On January 1, 2021, Congress overrode a presidential veto to enact 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 AML obligations for federal agencies, financial institutions and other entities. Cadwalader White Collar Defense and Investigations chair and partner Jodi Avergun and associate Christian Larson provide related commentary in the Cadwalader Cabinet.