Restoring Integrity to America’s Financial System

Executive Order 14406 directs federal agencies to strengthen safeguards against financial fraud, illicit finance, and money laundering while reinforcing the integrity of the U.S. banking system. The order instructs the Department of the Treasury and federal financial regulators to enhance customer due diligence, improve risk-based identification programs, strengthen Bank Secrecy Act compliance, and issue new guidance addressing fraud, suspicious financial activity, and credit risks. It also calls for updated regulatory guidance to help financial institutions identify illicit transactions, improve underwriting practices, and better protect the financial system from abuse and national security threats.