FinCEN To Seek Input On Rules Targeting Shell Companies

By Al Barbarino (March 22, 2021, 8:54 PM EDT) -- Financial Crimes Enforcement Network Director Kenneth Blanco revealed on Monday that an upcoming rulemaking notice will allow the public to comment on new beneficial ownership reporting requirements of the Anti-Money Laundering Act of 2020, which aims to stamp out bad actors hiding behind shell companies. 

Speaking at a virtual event held by the Florida International Bankers Association, Blanco urged the financial industry to weigh in on the upcoming advance notice of proposed rulemaking, or ANPRM, concerning the new requirement for U.S. companies to register their beneficial owners with the agency. 

"This is where your voice, your experiences and your thoughts truly...

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