US Banks Concerned AML Compliance Database Will Add to Regulatory Burden
The beneficial ownership database that is planned in the US to further improve AML Compliance is causing more than a few ripples. The full set of rules that will govern the database have yet to be released but its purpose would be to create a resource that identifies the true or "beneficial" owners of legal entities such as companies or trusts. One of the biggest obstacles to improving AML Compliance response is the fact that it's been historically possible for...
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