Bipartisan Banking Committee Senators Introduce Anti-Money Laundering Reform Bill

On September 26, 2019, a bipartisan group of eight Senators introduced the Illicit Cash Act[1], which, among other proposed reforms, would require certain companies to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) at incorporation and within 90 days of any change in beneficial ownership. Led by Sen. Mark Warner (D-VA), co-sponsors...… Continue Reading

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