Requires the Secretary of the Treasury to periodically convene a global anti-money laundering and financial crime symposium focused on how new technology can be used to more effectively combat financial crimes; requires the Treasury Department to brief appropriate congressional committees on the use of artificial intelligence and other emerging technologies in combating financial crimes.
Analysis summaries, actor details, and coverage mappings were LLM-classified and may contain errors.
This is a binding federal statute enacted by the U.S. Congress as part of the National Defense Authorization Act for Fiscal Year 2021, with mandatory obligations on the Secretary of the Treasury and FinCEN Director.
The document has minimal coverage of AI risk domains, with only brief implicit references to malicious actors (4.1, 4.2, 4.3) through its focus on combating financial crimes. The document primarily addresses technology adoption for anti-money laundering rather than AI-specific risks.
The document primarily governs the Finance and Insurance sector through requirements for financial regulators and regulated firms to participate in anti-money laundering symposiums. It also governs Public Administration (excluding National Security) through mandatory obligations on Treasury Department and FinCEN, and has minimal coverage of Professional and Technical Services through inclusion of technology providers.
The document focuses primarily on the Deploy and Operate and Monitor stages, requiring briefings on implementation status and internal use of AI technologies, and emphasizing ongoing analysis and dissemination of information. It also addresses the Plan and Design stage through requirements for policy recommendations and proof of concept demonstrations.
The document explicitly mentions artificial intelligence as one of several emerging technologies for combating financial crimes. It does not define AI models or systems, nor does it mention frontier AI, general purpose AI, foundation models, generative AI, predictive AI, open-weight models, or compute thresholds. The focus is on practical implementation of AI and other technologies for anti-money laundering purposes.
United States Congress
This section is part of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, enacted by the United States Congress as federal legislation.
Committee on Banking, Housing, and Urban Affairs of the Senate; Committee on Financial Services of the House of Representatives; United States Congress
Congressional committees exercise oversight authority through mandatory briefing requirements, with Congress having ultimate enforcement authority as the legislative body that enacted this statute.
Committee on Banking, Housing, and Urban Affairs of the Senate; Committee on Financial Services of the House of Representatives; Subcommittee on Innovation and Technology
Congressional committees monitor implementation through required briefings on the use of emerging technologies including AI, and the Subcommittee on Innovation and Technology coordinates with the Secretary in convening symposiums.
Secretary of the Treasury; FinCEN (Financial Crimes Enforcement Network); domestic and international financial regulators; regulated firms; technology providers
The document targets the Secretary of the Treasury and FinCEN Director with mandatory obligations, and applies to financial regulators, regulated firms, and technology providers who are required to participate in symposiums and demonstrate technologies for combating financial crimes.
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