BPI Supports FinCEN AML Rollout, Makes Recommendations

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.