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On January 1, 2021, the United States Congress overrode the president’s veto to enact the 2021 National Defense Authorization Act (the NDAA), which, aside from allocating the annual defense budget, includes the Anti-Money Laundering Act of 2020 (AMLA), the Corporate Transparency Act (CTA), the Combatting Russian Money Laundering Act (CRMLA) and the Kleptocracy Asset Recovery Rewards Act (KARRA). These statutes contain sweeping provisions intended to modernize the anti-money laundering (AML) and counterterrorist financing (CTF) laws in the U.S. to address new and emerging threats; improve coordination and information sharing among regulators, law enforcement and financial institutions; and encourage technological innovation to more effectively counter money laundering and terrorism financing.