BPI expressed support for FinCEN’s effort to implement the Corporate Transparency Act, a new anti-money laundering measure that targets anonymous shell companies, in a comment letter to the bureau submitted this week. BPI proposed recommendations meant to make the AML changes effective and useful, both for banks detecting money laundering and for law enforcement officials fighting human trafficking, terrorism financing and other crimes.
You Might Also Be Interested In...
AML, Bank Secrecy Act and Sanctions FinCEN Must Preserve Beneficial Ownership Data Usefulness, Discourage Inappropriate Reporting Omissions
AML, Bank Secrecy Act and Sanctions BPI Responds to FinCEN Request for Comments Regarding Beneficial Ownership Information Reports
AML, Bank Secrecy Act and Sanctions Russian Oligarchs Hide Money in U.S. Only Reliable Data Can Stop Them.
AML, Bank Secrecy Act and Sanctions BPI Comments on FinCEN Proposed Rulemaking on Access to and Safeguards for Beneficial Ownership Information
AML, Bank Secrecy Act and Sanctions Business-Ownership Registry Access Rules Should Ensure Banks Can Focus on Threats
AML, Bank Secrecy Act and Sanctions BPI and ABA Respond to FinCEN Advanced Notice of Proposed Rulemaking on Establishing a No Action Letter Process
AML, Bank Secrecy Act and Sanctions Financial Crime Fighters’ Huge Tech Revamp Is More Urgent Than Ever. Here’s What’s Needed to Finish It
More Posts by This Author
Bank Activities and Structure Our Assessment of the Federal Reserve’s Latest Semiannual Supervision and Regulation Report and Some Recommendations for Future Reports