U.S. officials updated bankers on their plans for governing access to beneficial ownership data, acting against wholesale de-risking and possibly revising sanctions against Russian oil at an anti-financial crime conference in Washington, D.C., this week.
U.S. officials finalized a rule Thursday crafted to prevent criminals from using legal entities to disguise themselves from financial institutions and transfer funds anonymously, launder their profits into real estate and exercise control over legitimate companies for nefarious purposes.
The Financial Crimes Enforcement Network issued a notice of proposed rulemaking concerning the implementation of the beneficial ownership information access and safeguard provisions as required under the Corporate Transparency Act.
December 15, 2022
The Financial Crimes Enforcement Network issued a final rule to establish beneficial ownership information reporting requirements for most companies pursuant to the Corporate Transparency Act, which aims to help prevent money laundering, terrorist financing, corruption, and other illicit activity.
September 29, 2022
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