Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes Elizabeth Rosenberg highlighted areas of increasing concern for AML/CFT policymakers: the hiding of ownership of assets managed by investment advisers and the lack of regulation over the non-financed segment of the real estate market.
Commentary by Michael T. Gershberg
Treasury Under Secretary for Terrorism and Financial Intelligence Brian E. Nelson (i) reviewed the Department's efforts to target Russia's "war machine " and (ii) identified risks present in countering illicit finance.
The Treasury Department urged financial institutions to be on alert for malicious or fraudulent transactions, and to notify FinCEN of any potential delays in submitting Suspicious Activity Reports.
The Financial Crimes Enforcement Network extended time-limited relief from the Beneficial Ownership Rule for certain financial products or services that automatically roll over or renew.
FinCEN issued a ruling that will provide entities with time-limited relief from the Beneficial Ownership Rule for "certain financial products or services that automatically rollover or renew."