A bipartisan group of U.S. senators proposed the "ILLICIT CASH Act," which would establish federal reporting requirements to help federal and local law enforcement officials more easily access beneficial ownership information.
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A bipartisan group of senators introduced a bill which would impose federal beneficial ownership reporting requirements for legal entities established under state law, intended to assist law enforcement in fighting money laundering and terrorist financing.
The U.S. House of Representatives passed a bill requiring U.S. corporations and limited liability companies to disclose beneficial ownership information.
The CEO of a Brazil-based petrochemical company pleaded guilty to DOJ bribery charges and other violations of the Foreign Corrupt Practices Act.
FinCEN issued an advance notice of proposed rulemaking "on the possibility of FinCEN establishing a "no-action letter process" under the Anti-Money Laundering Act of 2020.