Washington, D.C. – Today, BPI President and CEO Greg Baer issued the following statement in response to a vote by the U.S. House of Representatives to pass the National Defense Authorization Act for FY 2021, which includes language to reform the anti-money laundering framework and end anonymous shell companies.
Advancing this AML legislation will bring the nation closer to locking global criminals out of the U.S. banking system by unmasking anonymous shell companies and modernizing the process for detecting illicit behavior. We are thankful to Chairwoman Waters, Ranking Member McHenry, Congresswoman Maloney and Congressmen Cleaver and Luetkemeyer for taking action on this critical security issue.
