The Corporate Transparency Act (“CTA”) was enacted in 2021 as part of the Anti-Money Laundering Act of 2020, requiring certain business entities (“Reporting Companies”) to report beneficial ownership ...

On March 24, 2023, the Financial Crimes Enforcement Network (FinCEN) issued a press release and published initial guidance to assist the public in understanding the beneficial ownership information ...

In 2019, Congress passed the Corporate Transparency Act which went into law in 2021 and essentially requires most business entities (such as corporations, partnerships and LLCs) that are not publicly ...

The Report of Foreign Bank and Financial Accounts (FinCEN Form 114) commonly called the FBAR is a crucial reporting requirement for U.S. persons with foreign financial accounts. With the deadline for ...

WASHINGTON — The Financial Crimes Enforcement Network on Wednesday released a new electronic form to allow prepaid card providers — as well as foreign money services businesses — to register with the ...

Fincen just proposed the most significant reform to AML compliance in a generation, but its reporting forms are still broken.

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November 11, 2024 - Everyone would agree that money laundering by terrorists, enemy nations, and other bad actors is a problem that the government should try to control. With just such intentions, the ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

The Treasury’s Financial Crimes Enforcement Network (FinCEN) this week released a final rule, Definitions and Other Regulations Relating to Money Services Businesses, that more clearly defines which ...