As part of its Financial Sector Assessment Program for the United States, a regulatory review conducted every five years, the International Monetary Fund on Tuesday also issued a report focused on efforts to prevent money laundering and the financing of terrorism. In it, the U.S., despite “significantly strengthening its AML/CFT regime,” is chided for failing to address concerns related to shell companies and the lack of transparency regarding beneficial ownership information for U.S. corporations and trusts.
