On January 1, 2021, Congress passed the National Defense Authorization Act (NDAA),  addressing a variety of defense and national security matters, including the most substantial and sweeping legislative reforms to US anti-money laundering (AML) and counter-terrorism financing (CFT) laws since the USA Patriot Act of 2001. The NDAA introduces these AML/CFT amendments and enhancements in the form of the Anti-Money Laundering Act of 2020 (AMLA). The provisions in the Act will profoundly impact not only traditional financial institutions, but also certain types of businesses other than financial institutions.  The AMLA is an example of significant enhancements continually being made by the United States to address increasing national security concerns. Five key takeaways from the Act are highlighted below.