7 THINGS TO WATCH AFTER HISTORIC AML OVERHAUL IN THE US

An article from ICIJ on 19 January identifies 7 major areas where experts say the recently enacted Act falls short that could pave the way for future political action – some Wall Street investment vehicles don’t have to report; big businesses are exempt, too; trusts could slip through the cracks; the new ownership registry will remain secret; registry access for state and local law enforcement is limited; art dealers don’t have to report suspicions of financial crime — for now; and the penalty for leaking ownership information is harsher than for not reporting it to the government in the first place.

https://www.icij.org/investigations/fincen-files/seven-things-to-watch-after-historic-anti-money-laundering-overhaul-in-the-us/

 

 

 

 

 

 

If you would like to make a (polite) gesture and make a (very) modest contribution to my ongoing with my relocation, removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s