In an administrative ruling, FinCEN clarified that broker-dealers were required to collect information when opening new accounts for customers who receive assets as the beneficiary of an estate.
News & Insights
The Treasury Department issued the 2024 National Terrorist Financing Risk Assessment and the 2024 National Proliferation Financing Risk Assessment. The assessments are intended to assist both public and private sectors in understanding the current illicit finance environment and developing appropriate risk mitigation strategies.
In a newly issued Fact Sheet, Treasury highlighted recent efforts to fight corruption and enhance its AML efforts.
House Financial Services Committee Chair Patrick McHenry and a Republican colleague submitted a comment letter criticizing FinCEN's recently proposed beneficial ownership rule.
FinCEN proposed new regulations on access and safeguards to beneficial ownership information under the Corporate Transparency Act.