CTA Denial #3: “My industry’s lobbyists would never allow such a law to get passed.”
Lobbyists had staved off attempts to implement the CTA, and its predecessor bills, for decades....more
11/9/2023
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Corporate Veil ,
Corruption ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
National Security ,
NPRM ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations
CTA Denial #1: “I am a sophisticated business owner, and I have never heard of this.”
The enactment of the CTA in 2021 came as a shock to many (to some, a much later aftershock)....more
With the recent release of the “Pandora Papers,” renewed attention is focused on corporate ownership transparency. Earlier this year, Congress passed the Corporate Transparency Act (“CTA”). The CTA was enacted to combat the...more
10/6/2021
/ Corporate Transparency Act ,
Financial Fraud ,
FinCEN ,
International Consortium of Investigative Journalists (ICIJ) ,
Money Laundering ,
Offshore Companies ,
Offshore Funds ,
Pandora Papers ,
Shell Corporations ,
Tax Evasion ,
Tax Haven ,
White Collar Crimes
Executive Summary -
The U.S. Congress recently passed the Corporate Transparency Act (“CTA”) as part of the 2021 National Defense Authorization Act. The CTA requires certain corporations, limited liability companies and...more
3/17/2021
/ Anti-Money Laundering ,
Beneficial Owner ,
BSA/AML ,
Corporate Transparency Act ,
Customer Due Diligence (CDD) ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Know Your Customers ,
National Security ,
NDAA ,
New Legislation ,
Reporting Requirements ,
Shell Corporations