US AML bill doubted by industry expert

A pile of coins with two magnifying glasses

A new US bill designed to combat money laundering, tax evasion and acts of terrorism has had its relevance queried by one industry expert.

The Incorporation Transparency and Law Enforcement Assistance Act, which was introduced on August 1, would require US states to obtain the identities of the persons behind the corporations formed under their laws. At present, corporations and limited liability companies (LLCs) can be established without having to disclose the identity of the owners.


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