Diamond Member Pelican Press 0 Posted March 3, 2025 Diamond Member Share Posted March 3, 2025 This is the hidden content, please Sign In or Sign Up US Treasury Department says it will not enforce anti-money laundering law (Reuters) – The U.S. Treasury Department said on Sunday it would not enforce an anti-money laundering law that obliges millions of business entities to disclose the identities of their real beneficial owners. The Trump administration has opposed the Biden-era Corporate Transparency Act on the grounds that it is a burden on low-risk entities. The act has faced repeated legal challenges. In a statement, the Treasury Department said it would not enforce any penalties under the act against U.S. citizens or domestic reporting companies. “Treasury takes this step in the interest of supporting hard-working American taxpayers and small businesses,” it said, adding that it intended to issue a rule to narrow the scope of the act to foreign reporting companies. The measure’s supporters say it was designed to address the growing popularity of the United States as a venue for criminals to launder illicit funds. (Reporting by David Ljunggren; Editing by Jamie Freed) This is the hidden content, please Sign In or Sign Up #Treasury #Department #enforce #antimoney #laundering #law This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/232311-us-treasury-department-says-it-will-not-enforce-anti-money-laundering-law/ Share on other sites More sharing options...
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