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Financial Crimes FATF Beneficial Owner

Walkers

Update on the British Virgin Islands and the FATF's list of jurisdictions under increased monitoring

Walkers on

Pending completion of its recommended actions under the BVI Mutual Evaluation Report published by the Caribbean FATF in February 2024, the BVI has been included on the FATF's list of "jurisdictions under increased...more

Ballard Spahr LLP

FATF Re-Rates United States as “Largely Compliant” with Beneficial Ownership Recommendation

Ballard Spahr LLP on

The Financial Action Task Force (“FATF”) has re-rated the U.S. as “largely compliant” with FATF’s Recommendation 24, which pertains to transparency related to beneficial ownership of legal persons. Specifically, FATF...more

Levenfeld Pearlstein, LLC

What Trustees Need to Know About the Corporate Transparency Act – Sooner Rather Than Later

January 1, 2024 is quickly approaching and it will be a milestone for small businesses and their owners. Why? Because it is the effective date of the Corporate Transparency Act (the “Act”) – historic legislation that requires...more

Ballard Spahr LLP

FATF Plenary Suspends Membership of Russian Federation and Reiterates Other Strategic Initiatives

Ballard Spahr LLP on

The Financial Action Task Force (“FATF”) Plenary was held on February 22-24, bringing together delegates from around the world to meet in Paris and discuss a variety of global financial crimes and ongoing risk areas. In a...more

White & Case LLP

Four major changes to corporate transparency in 2022

White & Case LLP on

There is no doubt 2022 has signalled a renewed focus on beneficial ownership transparency. White & Case partners Jonah Anderson and Anneka Randhawa, and associate Laura Higgins have collaborated with Hannah Lilley and Michael...more

Ballard Spahr LLP

The Basel AML Index 2020: Across the Globe, Weak Oversight and Dormant Enforcement Systems. A Guest Blog.

Ballard Spahr LLP on

AML Standards May Exist in Theory, But Often are Not Enforced in Practice - Today we are very pleased to welcome, once again, guest bloggers Gretta Fenner and Dr. Kateryna Boguslavska of the Basel Institute on Governance...more

Hogan Lovells

Luxembourg Fiduciary Contracts and Trusts Register: Time to get prepared

Hogan Lovells on

The Luxembourg law of 10 July 2020 (the "Trust Register Law") establishing a Luxembourg Register of fiduciary contracts and trusts (the "Trust Register") will enter into force on 17 July 2020. ...more

K2 Integrity

Beneficial Ownership: Current Challenges Met with Opportunity

K2 Integrity on

Beneficial ownership is a topic which presents significant challenges to compliance officers charged with untangling a web of ownership interests that span numerous international jurisdictions and ownership structures. ...more

Foodman CPAs & Advisors

The U.S.A Continues to be AML/BSA “Vulnerable”

The U.S. Department of the Treasury 2020 Strategy (National Strategy for Combating Terrorist and Other Illicit Financing released on February 6, 2020) describes ongoing significant AML/CFT threats. ...more

A&O Shearman

Financial Action Task Force Publishes Best Practices for Beneficial Ownership Transparency

A&O Shearman on

The Financial Action Task Force has published best practices on beneficial ownership for legal persons. Global standards require authorities to be able to ascertain the ultimate owner of a company or foundation to provide...more

Ballard Spahr LLP

The EU’s Efforts to Combat Money Laundering, the Financing of Terrorism and Corruption Seem to Overlook a Very American Approach:...

Ballard Spahr LLP on

The European Union (“EU”) recently has grappled with a series of massive money laundering scandals and strategized about how to more effectively combat international money laundering and corruption. Generally, the EU has...more

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