Tag: Corporate Transparency Act

Identifying UBOs remains one of the most complex challenges in CDD. These individuals, who ultimately control or benefit from a legal entity, must be...

Tax evasion remains one of the most costly crimes in the global financial system, depriving governments of an estimated half a trillion dollars every...

As the spring conference season winds down, the financial crime and compliance community finds itself invigorated with a renewed sense of purpose. According to Saifr,...

On December 3, 2024, the enforcement of the CTA was halted by a nationwide preliminary injunction, casting doubt over its future implementation. According to Moody's,...

In a stride towards combating financial crimes, the US introduced the CTA, designed to peel back the layers of secrecy often associated with business entities.

As 2024 progresses, regulators worldwide find themselves increasingly busy, grappling with the dual challenges of an ever-changing geopolitical landscape and the rapid evolution of technology.

The Corporate Transparency Act (CTA) ushered in a significant shift in beneficial ownership reporting requirements starting from January 1, 2024. This change is more than a mere procedural update; it's a critical pivot in the financial regulatory landscape that demands attention and action.

In recent years, United States financial regulators have established themselves as global leaders in enforcement. In 2022, they imposed $3bn in fines, nearly three...