AML, Bank Secrecy Act and Sanctions
FinCEN Must Preserve Beneficial Ownership Data Usefulness, Discourage Inappropriate Reporting Omissions
Washington, D.C. — The Bank Policy Institute submitted comments to the Financial Crimes Enforcement Network today expressing concern about the proposed reporting form for its beneficial ownership final rule. The proposal would allow reporting companies to omit information as “unknown” or “unable to identify” without requiring them to clarify why the information could not be …
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