The New US Corporate Transparency Act: Why it’s Just Not That Transparent!

Featured Speakers :
WHEN : 04/22/2021 1:00 pm 2:30 pm ET

Complimentary Webinar, Presented by ACFCS, Ross Delston and Jim Richards

The US Corporate Transparency Act (CTA) arrived at the start of the year with much fanfare, as part of the far-reaching financial crime reforms included in the AML Act of 2020. While some media coverage declared it would be the end of anonymous corporations in the United States, the reality is more complicated. There are many good elements of the CTA, but also some bad ones, and some things that are… well, just plain ugly.

In this session, join two of the top minds in fincrime for a freewheeling conversation on what the CTA gets right and wrong, why full corporate transparency isn’t guaranteed (or even likely), and what all this means for your fincrime prevention program.

You’ll hear insights on:

  • Why names of corporate owners are treated like PII (personally identifiable information)
  • Why not just any financial institution can access the FinCEN registry – you have to be anointed
  • What access to the registry really means (it’s not what you think it is)
  • Why front companies and shell corporations receive favorable treatment
  • What the company registries of the United Kingdom, European Union and India share – and the U.S. doesn’t.
  • How reporting company exemptions create loopholes
  • Why the registry will likely take years to stand up and populate – so don’t hold your breath

This session is eligible for 1.5 CFCS credits.

Important note for ACFCS members: Please register using the same email address tied to your member account.

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