US regulator targets 'opaque' money laundering in beneficial ownership notice

Mark Battersby
clock • 2 min read

US Treasury financial regulator FinCEN has begun a consultation on implementing the strict new beneficial ownership reporting rules established by the Corporate Transparency Act (CTA). The Financial Crimes Enforcement Network released the notice of proposed rulemaking to give the public its first opportunity to comment on the beneficial ownership disclosure requirements. It said in the statement that this new measure will "enhance the national security of the United States by making it more difficult for malign actors to exploit opaque legal structures to launder money, finance terror...

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