TRM Labs warns Congress the Bank Secrecy Act is outdated for AI-driven financial crime
TRM Labs has alerted Congress that the Bank Secrecy Act is outdated in addressing AI-driven financial crimes. The current law, established in the 1970s, is ill-equipped to handle the rapid movement of illicit funds across blockchain networks. Experts are calling for a technology-driven overhaul to enhance regulatory frameworks and improve real-time monitoring capabilities.
- ▪The Bank Secrecy Act was signed into law in 1970 and is not suited for today's fast-paced financial crime landscape.
- ▪North Korean hackers stole over $2 billion in digital assets during 2025, highlighting the urgency for updated regulations.
- ▪Ari Redbord from TRM Labs emphasized the need for AI-native investigative tools to match the speed of modern illicit finance.
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TRM Labs warns Congress the Bank Secrecy Act is outdated for AI-driven financial crime Blockchain intelligence firm tells House subcommittee that a 1970s-era law can't keep up with crimes that move across chains in 48 hours. Share Add us on Google by Editorial Team May. 22, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); The Bank Secrecy Act was signed into law in 1970.
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