U.S. beneficial ownership efforts a welcome sight for global AML community
By 
Martin Woods2020-12-14T20:14:00
U.S. Congress’ defense spending bill requiring corporations to identify who owns and controls them is a significant milestone in the global effort to put an end to anonymous shell companies, writes Martin Woods.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleCompliance takeaways from Biden strategy on countering corruption
President Joe Biden’s sweeping anti-corruption initiative includes developments in two key areas of interest for the compliance profession: the U.S. beneficial ownership registry and a new proposal to expand reporting requirements on cash real estate transactions.
-
ArticleElevating compliance key for financial services, says former HSBC head
John Flint, former group chief executive at HSBC, considered the progress compliance has made over the last 20 years and the strides the profession must continue to make as part of a keynote at the ICA’s 2021 BIG Compliance Festival.
-
ArticleFinCEN launches rulemaking on beneficial ownership
The Financial Crimes Enforcement Network has launched its rulemaking process that will require corporations report the individual or individuals who own and control them, part of an initiative to help U.S. law enforcement fight financial crime.
More from Opinion
-
OpinionThe next era of compliance: How banks will stay ahead of financial crime in 2026
Financial crime is becoming faster, smarter, and more difficult to trace. By 2026, banks and regulators will approach compliance with a new mindset. The shift is away from reaction and toward prevention, partnership, and people.
-
ArticleGSA’s draft AI Clause turns governance into a contractual mandate
A sweeping proposed federal procurement clause would push AI oversight out of policy decks and into compliance operations, vendor management, and real-time control testing.
-
OpinionFrom enforcer to coach: Engineering compliance that happens at speed
New Gartner research reveals why traditional risk management is failing to keep pace with modern risks, and outlines how compliance leaders must enable organizational risk owners to build an instinctive Risk Reflex.