On August 29, 2024, the Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Treasury issued a final rule requiring anti-money laundering (“AML”) reports for certain non-exempt real estate transfers to entities and trusts (“Transferees”) as of December 1, 2025. The reports will be required for Transferees of buildings of, or land where the Transferee intend… Read more »
Posts Categorized: Data Privacy
FinCEN Issues Final Beneficial Ownership Rule
On September 22, 2022, the Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of the Treasury issued a final rule (the “Rule”) under the Anti-Money Laundering Act and the Corporate Transparency Act. The Rule requires certain entities to report beneficial ownership. “Reporting Companies” are (i) domestic entities created by filing with a state secretary… Read more »