Reported by Reuters

(Excerpt shared below. To read full report, go to: https://www.reuters.com/business/us-treasury-proposes-taking-more-central-role-enforcing-anti-money-laundering-2025-12-10/)

The U.S. Treasury Department has proposed taking a more central role in the enforcement of anti-money-laundering rules in a bid to overhaul a system for catching illicit transactions by drug traffickers, the Wall Street Journal reported on Wednesday.

The proposal could give the Treasury’s Financial Crimes Enforcement Network the ability to veto a finding by another regulator that a bank has infringed on the Bank Secrecy Act, the report said, citing a draft term sheet circulated to the nation’s banking regulators.

Under the proposal, the Treasury could allow banks in some cases to avoid being penalized by regulators for what the Treasury views as mere technical violations of their anti-money-laundering systems.