Since January 2021, the Biden administration has signaled that it intends to ramp up anti-money laundering (AML) regulation and enforcement. That was reinforced late last year when the administration issued its comprehensive Strategy on Anti-Corruption, which declared that combating illicit finance is one of its principal goals. The strategy highlights how regulators and law enforcement officials will leverage recent AML legislation and enhanced regulations that encourage transparency, increase obligations for gatekeepers and foster global cooperation to ratchet up AML enforcement actions, all of which creates greater compliance challenges and risk for financial institutions. Mayer Brown partners Glen Kopp, Gina Parlovecchio and Brad Resnikoff discuss how to better understand the strategy and the related developments in AML regulation and enforcement.