Enforced by the US Department of the Treasury (Internal Revenue Service and Financial Crimes Enforcement Network - FinCEN), the Federal Deposit Insurance Corporation, among others.

http://www.fincen.gov/news_room...

Anti-money laundering regulations and legislation (such as the EU Money Laundering Directives and the US PATRIOT Act) require institutions to identify clients who may pose a high risk of money laundering, and to conduct further research on these clients to better assess the risks they pose - imposing serious penalties for those who fail to do so. While Enhanced Due Diligence has not been internationally defined, the USA PATRIOT Act dictates that institutions "shall establish appropriate, specific, and, where necessary, enhanced, due diligence policies, procedures, and controls that are reasonably designed to detect and report instances of money laundering through those accounts."

US regulations require that EDD measures are applied to account types such as Private banking, Correspondent accounts, and Offshore banking institutions.

EDD Discussion Group on LinkedIn

All financial institutions doing business in the US.

http://en.wikipedia.org/wiki/Know_your_customer