Tag Archives: Ultimate Beneficial Ownership

Annual financial crime compliance costs in the U.S. are up 95% for mid/large financial institutions since the beginning of the COVID-19 pandemic to a total of almost $41 billion according to the LexisNexis® Risk Solutions 2021 True Cost of Financial …

Our recent post highlighted areas to focus on as the Anti-Money Laundering (AML) Act of 2020 takes shape. One important provision of the Act deals with virtual currency and digital assets and could have potential far-reaching effects on the industry, …

Anonymous corporate structures designed to move and hide illicit wealth have long plagued the fight against money-laundering and counter-terrorist financing. Under the Bank Secrecy Act (BSA), enacted in 1970, financial institutions are required to report certain transaction activities and subjects …