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Beneficial Owner Terrorism Funding Anti-Money Laundering

Walkers

Beneficial ownership registers: Jersey’s latest consultation paper on access to information

Walkers on

Jersey: Consultation paper on access to information - On 26 April 2024, the States of Jersey published its latest consultation paper on "Access to information on Jersey's Central Register of Companies and legal persons"....more

Dunlap Bennett & Ludwig PLLC

What Is The Corporate Transparency Act?

The Corporate Transparency Act was passed by Congress with bipartisan support in 2021 and went into effect on January 1, 2024. Broadly speaking, the law requires private companies to file a report with the Department of...more

Miller & Martin PLLC

The Corporate Transparency Act: A New Federal Law with Broad Implications

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The Corporate Transparency Act (the “CTA”) is a new federal law enacted in 2021 to combat money laundering, terrorism, tax fraud and other illegal activities. Starting January 1, 2024, the CTA will require a substantial...more

Rivkin Radler LLP

The Corporate Transparency Act: Will it Impact You?

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The Corporate Transparency Act (CTA) will affect most small, privately held businesses starting January 1, 2024. Does the CTA apply to you? What is the CTA? The CTA, a law enacted by Congress, will require certain business...more

Cozen O'Connor

Corporate Transparency Act: anche gli USA impongono l’obbligo di comunicare i titolari effettivi

Cozen O'Connor on

Il 1° gennaio 2024 entrerà in vigore negli Stati Uniti il Corporate Transparency Act (CTA), un nuovo regolamento adottato dal Financial Crimes Enforcement Network dell’U.S. Department of Treasury (FinCEN) con lo scopo di...more

Holland & Knight LLP

A Fast Approach: The Corporate Transparency Act's Impending Impact on Business Aviation

Holland & Knight LLP on

The Corporate Transparency Act (CTA), enacted by Congress as part of the Anti-Money Laundering Act of 2020, for the first time under federal law, requires the establishment of a centralized, national beneficial ownership...more

Lowenstein Sandler LLP

Preparing Your Company for FinCEN’s Beneficial Ownership Reporting Requirements

On September 29, 2022, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) reporting requirements...more

Morrison & Foerster LLP

Beneficial Ownership Information: A Final Rule

Morrison & Foerster LLP on

On September 29, 2022, the Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing beneficial ownership requirements for certain U.S. and foreign entities registered to do business in the United States,...more

King & Spalding

FinCEN Issues Anti-Money Laundering and Countering the Financing of Terrorism Priorities

King & Spalding on

FinCEN announces eight areas of focus and advises preparation for issuance of new regulations - On June 30, 2021, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued the first...more

K2 Integrity

Looking Forward: AML/CFT Expectations in the Biden Administration

K2 Integrity on

The Anti-Money Laundering Act of 2020 (AML Act) serves as the starting point for financial institutions and companies looking to understand what to expect from the Biden administration with respect to anti-money...more

Williams Mullen

Congress Imposes Sweeping Beneficial Ownership Disclosure Requirements in the Corporate Transparency Act

Williams Mullen on

With the stated goal of “counter[ing] money laundering, the financing of terrorism, and other illicit activity,” the Corporate Transparency Act (the “Act”), adopted on January 1, 2021, imposes novel beneficial ownership...more

Miles & Stockbridge P.C.

Top 5 Changes To Anti-Money Laundering Requirements

On January 1, 2021, the National Defense Authorization Act became law after Congress overrode the President’s veto. As highlighted below, Congress enacted a variety of key provisions that create significant and sweeping...more

Ballard Spahr LLP

U.S. Passes Historic BSA/AML Legislative Change

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First Blog Post in an Extended Series on Legislative Changes to BSA/AML Regulatory Regime - Change is upon us. The U.S. House and Senate have passed – over a Presidential veto – the National Defense Authorization Act...more

Foodman CPAs & Advisors

The U.S.A Continues to be AML/BSA “Vulnerable”

The U.S. Department of the Treasury 2020 Strategy (National Strategy for Combating Terrorist and Other Illicit Financing released on February 6, 2020) describes ongoing significant AML/CFT threats. ...more

Ballard Spahr LLP

Treasury Department’s 2020 National Illicit Finance Strategy: Aspirations for BSA/AML Modernization and the Combatting of Key...

Ballard Spahr LLP on

First in a Two-Post Series - The U.S. Department of Treasury (“Treasury”) has issued its 2020 National Strategy for Combating Terrorist and Other Illicit Financing (“2020 Strategy”)....more

Foodman CPAs & Advisors

What is Next after BSA turns 50?

On 2/6/2020, the U.S. Department of the Treasury issued the 2020 National Strategy for Combating Terrorist and Other Illicit Financing (2020 Strategy).  The purpose of the 2020 Strategy is to...more

Orrick, Herrington & Sutcliffe LLP

The implementation of the Fifth Anti Money Laundering Directive in German Law – Tighten the tight?

In the course of the “Panama Paper” scandal, Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing – known as 4. Anti-Money Laundering...more

A&O Shearman

Financial Action Task Force Reports to G20

A&O Shearman on

The Financial Action Task Force has published a Report to G20 Finance Ministers and Central Bank Governors on its ongoing work to fight money laundering and terrorist financing. The report summarizes the FATF's work...more

Blake, Cassels & Graydon LLP

Beneficial Ownership: New Developments

The Minister of Finance recently introduced Bill C-86, Budget Implementation Act, 2018, No. 2 (Bill C-86). Though Bill C-86 makes some minor modifications to the Proceeds of Crime (Money Laundering) and Terrorist Financing...more

Ballard Spahr LLP

Congress Proposes National Directory of Beneficial Owners of Legal Entities

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Congress is considering a new draft bill, the Counter Terrorism and Illicit Finance Act (“CTIFA”), currently in committee in the Senate.  The CTIFA proposes the most substantial overhaul to the Bank Secrecy Act (“BSA”) since...more

K2 Integrity

FinCEN’s Beneficial Ownership Rule and Increased AML Burden

K2 Integrity on

Compliance officers at financial institutions have made great strides in improving Know Your Customer (KYC) programs to focus on knowing their customers as a critical function in combating money laundering. As regulators...more

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