FinCEN solicited comment on the Customer Identification Program Rule requirement that banks collect a taxpayer identification number, from a customer who is a U.S. person, prior to opening an account.
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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.
The U.S. District Court for the Northern District of Alabama held the Corporate Transparency Act unconstitutional.
An international commodities trading company pled guilty and paid monetary penalties to resolve DOJ charges for violating the Foreign Corrupt Practices Act. The company had been charged with bribing then-public officials of an Ecuadorian state-owned oil company to secure business advantages and contracts.
FinCEN updated its list of Financial Action Task Force identified jurisdictions found to have strategic AML/CFT deficiencies.