Sweeping Changes to Money Laundering Enforcement – What Does That Mean for Financial Institutions?

Sessions

On New Year’s Day 2021, Congress passed—over President Trump’s veto—a defense appropriations law containing the Anti-Money Laundering Act of 2020 (“AML Act”) and the Corporate Transparency Act, as part of a sweeping new set of anti-money laundering reforms that create important new beneficial ownership disclosure obligations for a wide range of small companies, and contain both good and bad news for financial institutions.

SPEAKERS:
Cheryl Lott
Joshua Robbins

Shareholders
Buchalter