# 2024 AML/CFT Program Proposed Rule (withdrawn): Anti-Money Laundering and Countering the Financing of Terrorism Programs (Notice of Proposed Rulemaking, 2024)

Source: https://www.bankingnewsai.com/ai-regulation/documents/fincen-aml-cft-program-nprm-2024
Last updated: Aug 26, 2026

FinCEN announced this proposal on June 28, 2024 and published it in the Federal Register on July 3, 2024, with comments due September 3, 2024. It would have required 'effective, risk-based, and reasonably designed' AML/CFT programs and encouraged institutions to responsibly adopt innovative technologies including machine learning, generative artificial intelligence, digital identity tools, blockchain analytics, and APIs, stating that experimenting with them would not by itself create supervisory or enforcement risk. FinCEN withdrew the proposal in April 2026 and superseded it with a new AML/CFT program NPRM.

## At a glance

| Field | Value |
| --- | --- |
| Authority | [FinCEN](https://www.bankingnewsai.com/ai-regulation/fincen) |
| Type | Consultation |
| Status | Withdrawn |
| Published | Jul 3, 2024 |
| Comment deadline | Sep 3, 2024 |
| Applies to | All financial institutions with AML/CFT program obligations under the Bank Secrecy Act |
| Official text | https://www.federalregister.gov/documents/2024/07/03/2024-14414/anti-money-laundering-and-countering-the-financing-of-terrorism-programs |

## Key points

- Announced June 28, 2024; Federal Register publication July 3, 2024; comment deadline September 3, 2024
- Implemented section 6101 of the AML Act: programs must be effective, risk-based, and reasonably designed, with a mandatory risk assessment process incorporating the AML/CFT Priorities
- Expressly encouraged responsible adoption of machine learning, generative AI, digital identity, blockchain analytics, and APIs as part of internal policies, procedures, and controls
- Stated that institutions experimenting with innovative technologies will not face additional supervisory or enforcement risk solely because of the experimentation
- Issued with an interagency statement from the OCC, Federal Reserve, FDIC, and NCUA, which proposed parallel amendments to their bank program rules on July 19, 2024
- Never finalized; FinCEN's April 7, 2026 press release says the 2026 proposal 'fully supersedes' the July 3, 2024 proposal and that FinCEN is withdrawing it

## What changed for banks

This was the first time FinCEN put generative AI by name into a proposed regulation and offered a written assurance that piloting it in AML would not itself be an enforcement risk. Although withdrawn, its innovation language carried into the 2026 proposal, and its comment file documents industry positions on AI in AML.

## Use cases it governs

- [AML / KYC](https://www.bankingnewsai.com/ai-regulation/by-use-case#aml-kyc)
- [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai)
- [AI governance (general)](https://www.bankingnewsai.com/ai-regulation/by-use-case#governance-general)

> Superseded by [2026 AML/CFT Program Proposed Rule](https://www.bankingnewsai.com/ai-regulation/documents/fincen-aml-cft-program-nprm-2026).

## FAQ

### Was the July 2024 FinCEN AML/CFT program rule ever finalized?

No. FinCEN withdrew it in April 2026 and replaced it with a new proposed rule published April 10, 2026.

### Did the 2024 proposal require AI adoption?

No. It encouraged responsible adoption of machine learning and generative AI and promised no added enforcement risk for experimentation, but left technology choices to each institution.

## Related documents

- [2026 AML/CFT Program Proposed Rule](https://www.bankingnewsai.com/ai-regulation/documents/fincen-aml-cft-program-nprm-2026) — Anti-Money Laundering and Countering the Financing of Terrorism Programs (Notice of Proposed Rulemaking, 2026) (Apr 10, 2026)
- [FIN-2026-Alert005 (Digital Asset Investment Scam Centers)](https://www.bankingnewsai.com/ai-regulation/documents/fincen-alert-2026-scam-centers) — FinCEN Alert on Money Laundering Activity Associated with Digital Asset Investment Scam Centers (Sep 3, 2026)
- [FIN-2026-Alert004 (Federal Student Aid Fraud)](https://www.bankingnewsai.com/ai-regulation/documents/fincen-alert-2026-federal-student-aid-fraud) — FinCEN Alert on Fraud Schemes Targeting Federal Student Aid (Jul 24, 2026)
- [FIN-2024-Alert004 (Deepfake Media)](https://www.bankingnewsai.com/ai-regulation/documents/fincen-alert-2024-deepfake-media) — FinCEN Alert on Fraud Schemes Involving Deepfake Media Targeting Financial Institutions (Nov 13, 2024)
- [2021 BSA/AML Model Risk Management Statement](https://www.bankingnewsai.com/ai-regulation/documents/fincen-bsa-aml-model-risk-statement-2021) — Interagency Statement on Model Risk Management for Bank Systems Supporting Bank Secrecy Act/Anti-Money Laundering Compliance (Apr 9, 2021)
- [Anti-Money Laundering Act of 2020](https://www.bankingnewsai.com/ai-regulation/documents/fincen-aml-act-2020) — Anti-Money Laundering Act of 2020 (Division F of the National Defense Authorization Act for Fiscal Year 2021) (Jan 1, 2021)
- [FinCEN Innovation Hours](https://www.bankingnewsai.com/ai-regulation/documents/fincen-innovation-hours-2019) — FinCEN's Innovation Initiative: Implementation of FinCEN Innovation Hours; Invitation to Request Innovation Hours Meeting (May 1, 2019)
- [2018 Joint Statement on BSA/AML Innovation](https://www.bankingnewsai.com/ai-regulation/documents/fincen-joint-statement-innovation-2018) — Joint Statement on Innovative Efforts to Combat Money Laundering and Terrorist Financing (Dec 3, 2018)

Last reviewed Aug 26, 2026. Cite the official text (https://www.federalregister.gov/documents/2024/07/03/2024-14414/anti-money-laundering-and-countering-the-financing-of-terrorism-programs) for the rule and this page for the summary and dates.

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