Congress ratifies bill strengthening AMLA

Posted at Jun 07 2012 10:48 AM | Updated as of Jun 07 2012 06:53 PM

Congress has passed the bill allowing the Anti-Money Laundering Council to look into suspicious bank accounts. The amendments do away with the need for depositors' consent before the AMLC can get into a bank account.

Lawmakers also passed a bill criminalizing the financing of terrorist organizations. However, another bill expanding institutions covered by the anti-money laundering act is still pending. [email protected], June 7, 2012