News & Analysis as of

Shell Corporations AML/CFT FinCEN

Holland & Hart LLP

The Corporate Transparency Act Isn't Dead Yet

Holland & Hart LLP on

Congress has enacted legislation over the decades aimed at curbing money laundering and the financing of terrorism. Increased legislation has been necessary to ensure that the federal government is able to address evolving...more

Ballard Spahr LLP

FinCEN Renews and Expands GTO

Ballard Spahr LLP on

FinCEN announced on October 20 that, once again, it is extending the Geographic Targeting Order, or GTO, which requires U.S. title insurance companies to identify the natural persons behind so-called “shell companies” used in...more

Foodman CPAs & Advisors

Beneficiarios Reales Bajo La Regla Final De FinCEN

Foodman CPAs & Advisors on

El 29 de septiembre del 2022, FinCEN emitió la muy esperada Regla Final (Final Rule) que establece un requisito de reporte de información sobre los beneficiarios reales, en conformidad con la Ley de Transparencia Corporativa...more

Foodman CPAs & Advisors

Beneficial Ownership Under FinCEN’s Final Rule

On 9/29/22 FinCEN issued the very anticipated Final Rule establishing a beneficial ownership information reporting requirement, pursuant to the bipartisan Corporate Transparency Act (CTA)....more

Jones Day

Major U.S. Anti-Money Laundering Reforms Become Law

Jones Day on

The Situation: On January 1, 2021, the U.S. Congress enacted the most significant reforms to U.S. anti-money laundering laws in decades. The Anti-Money Laundering Act of 2020 ("AMLA") and the Corporate Transparency Act...more

Foodman CPAs & Advisors

De-Risking 101

Foodman CPAs & Advisors on

Bank Secrecy Act of 1970 - Requires U.S. financial institutions to assist U.S. government agencies to detect and prevent money laundering by keeping records of cash purchases of negotiable instruments, and file reports...more

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