William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, Division A, Title LXII, Section 6211 ("Financial crimes tech symposium")

• Authority: United States Congress
• Parent authority: Federal government
• Jurisdiction: United States
• Collections: NDAA provisions;U.S. federal laws
• Most recent activity: Enacted
• Most recent activity date: 2021-01-01

Risk subdomain coverage

Minimal coverage — Brief mention but no specific mitigations, recommendations or governance measures relating to the risk subdomain are described.

• Disinformation, surveillance, and influence at scale
• Fraud, scams, and targeted manipulation

All other risk subdomains had no coverage in this document.

Risk Coverage Summary

The document has minimal coverage of AI risk domains, with only brief implicit references to malicious actors (4.1, 4.2, 4.3) through its focus on combating financial crimes. The document primarily addresses technology adoption for anti-money laundering rather than AI-specific risks.

Sector coverage

Good coverage — Comprehensive governance measures or mitigations with clear procedures relating to the sector are explicitly described.

• Finance & Insurance
• Public Administration (excl. National Security)

Minimal coverage — Brief mention but no specific mitigations, recommendations or governance measures relating to the sector are described.

• Professional & Technical Services
• Scientific Research & Development Services
• National Security

All other sectors had no coverage in this document.

Sectors Summary

The document primarily governs the Finance and Insurance sector through requirements for financial regulators and regulated firms to participate in anti-money laundering symposiums. It also governs Public Administration (excluding National Security) through mandatory obligations on Treasury Department and FinCEN, and has minimal coverage of Professional and Technical Services through inclusion of technology providers.

Legislative Status

Hard Law

Legislative Status Summary

This is a binding federal statute enacted by the U.S. Congress as part of the National Defense Authorization Act for Fiscal Year 2021, with mandatory obligations on the Secretary of the Treasury and FinCEN Director.

Actors

Proposer

• Entity Types: AI_Governance_Actor
• Entities: United States Congress
• Summary: This section is part of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, enacted by the United States Congress as federal legislation.

Target

• Entity Types: AI_Governance_Actor, AI_Developer, AI_Infrastructure_Provider
• Entities: Secretary of the Treasury; FinCEN (Financial Crimes Enforcement Network); domestic and international financial regulators; regulated firms; technology providers
• Summary: The document targets the Secretary of the Treasury and FinCEN Director with mandatory obligations, and applies to financial regulators, regulated firms, and technology providers who are required to participate in symposiums and demonstrate technologies for combating financial crimes.

Enforcer

• Entity Types: AI_Governance_Actor
• Entities: Committee on Banking, Housing, and Urban Affairs of the Senate; Committee on Financial Services of the House of Representatives; United States Congress
• Summary: Congressional committees exercise oversight authority through mandatory briefing requirements, with Congress having ultimate enforcement authority as the legislative body that enacted this statute.

Monitor

• Entity Types: AI_Governance_Actor
• Entities: Committee on Banking, Housing, and Urban Affairs of the Senate; Committee on Financial Services of the House of Representatives; Subcommittee on Innovation and Technology
• Summary: Congressional committees monitor implementation through required briefings on the use of emerging technologies including AI, and the Subcommittee on Innovation and Technology coordinates with the Secretary in convening symposiums.

AI Lifecycle Stages

Lifecycle stages covered by the documents, as defined in the OECD Framework for the Classification of AI Systems

• Plan and Design
• Collect and Process Data
• Verify and Validate
• Deploy
• Operate and Monitor

AI Lifecycle Summary

The document focuses primarily on the Deploy and Operate and Monitor stages, requiring briefings on implementation status and internal use of AI technologies, and emphasizing ongoing analysis and dissemination of information. It also addresses the Plan and Design stage through requirements for policy recommendations and proof of concept demonstrations.

Technical Scope

Terms relating to technical scope that are mentioned or implicitly referenced in the document

No technical scope terms identified.

Technical Scope Summary

The document explicitly mentions artificial intelligence as one of several emerging technologies for combating financial crimes. It does not define AI models or systems, nor does it mention frontier AI, general purpose AI, foundation models, generative AI, predictive AI, open-weight models, or compute thresholds. The focus is on practical implementation of AI and other technologies for anti-money laundering purposes.