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How Transparent is the Corporate Transparency Act
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Manage episode 288178920 series 2806362
On April 3rd, 2016, information about 214,488 offshore companies established by Panamanian law firm Mossack Fonseca was leaked. Since the Panama Papers leak, a total of 81 jurisdictions worldwide have passed laws requiring beneficial ownership to be registered with a government authority. The U.S. Government has been openly critical of countries that act as money laundering safe havens and yet we were not taking any steps toward transparency. That changed on January 1, 2021 when both houses of Congress passed the National Defense Authorization Act for Fiscal Year 2021, which includes the Corporate Transparency Act (the Act). The Act requires a report be filed with the Financial Crimes Enforcement Network (FinCEN) that identifies each beneficial owner of an applicant forming a reporting company.
For more information visit: https://fraudeatsstrategy.com/
49 episodes
Archived series ("Inactive feed" status)
When? This feed was archived on February 26, 2024 23:22 (). Last successful fetch was on June 28, 2023 12:12 ()
Why? Inactive feed status. Our servers were unable to retrieve a valid podcast feed for a sustained period.
What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 288178920 series 2806362
On April 3rd, 2016, information about 214,488 offshore companies established by Panamanian law firm Mossack Fonseca was leaked. Since the Panama Papers leak, a total of 81 jurisdictions worldwide have passed laws requiring beneficial ownership to be registered with a government authority. The U.S. Government has been openly critical of countries that act as money laundering safe havens and yet we were not taking any steps toward transparency. That changed on January 1, 2021 when both houses of Congress passed the National Defense Authorization Act for Fiscal Year 2021, which includes the Corporate Transparency Act (the Act). The Act requires a report be filed with the Financial Crimes Enforcement Network (FinCEN) that identifies each beneficial owner of an applicant forming a reporting company.
For more information visit: https://fraudeatsstrategy.com/
49 episodes
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