Both individuals and companies risk severe penalties if they contribute to money laundering, even if the contribution is the result of negligence. By appointing an anti-money laundering officer organisations will reduce their...more
The Corporate Transparency Act (31 USC §5336) goes into effect January 1, 2024. Under the Act, most LLCs (and other entities) will need to supply basic personal identification data regarding their “beneficial owners” to...more
New federal requirements in the annual national defense budget reauthorization effectively will end anonymous U.S. shell companies by requiring businesses to disclose 25 percent owners and control persons to a newly created...more