Making Sense of U.S. Anti-Financial Crime Measures, with Daniel Stipano
Financial Crime Matters
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Evolution of Beneficial Ownership Information under Recent FinCEN Rules
The chapter discusses the transition to the new BOIT system for beneficial ownership information under the CTA, emphasizing the changes in filing requirements and accessibility since the last regulations. It also covers the implications for financial institutions in terms of AML and CFT compliance, including the expansion to include Virtual Asset Service Providers. The chapter further explores the impact on investment advisors and real estate professionals under the updated regulations, aiming to enhance financial crime prevention and industry-wide compliance consistency.
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