I’ve written two articles on the CARES Act’s Paycheck Protection Program (PPP) – the $350 billion, or $350,000,000,000, pot of […]
Category: Beneficial Ownership & Customer Due Diligence
The CARES Act and the Paycheck Protection Program – We Know A Surge of Fraud is Coming, Let’s Prevent it Now
SBA’s disaster loan programs suffer increased vulnerability to fraud and unnecessary losses when loan transactions are expedited to provide quick […]
Lack of Beneficial Ownership Information: a “Glaring Hole in our System” Says Treasury Secretary
On February 12, 2020, Treasury Secretary Mnuchin testified before the Senate Finance Committee on the President’s Fiscal Year 2021 budget. […]
REAL ID Act of 2005 … REAL Beneficial Owners Act of 2019?
Can something like the REAL ID Act of 2005 be used to solve the beneficial ownership issue? Even with a […]
FinCEN Director Ken Blanco testifies on the new CDD/Beneficial Ownership Rule
House Financial Services Committee – FinCEN Director Blanco Written Testimony 5-16-18 What is interesting is what Director Blanco did not […]
Beneficial Ownership – a Centralized Registry is the Key!
Requiring financial institutions to collect the (one to five) names and PII of what may or may not be the […]
Beneficial Ownership is less than a month away
I’m predicting some chaos, lots of gnashing of teeth and wringing of hands, Media and Social Media !WTF?! and Congressional !Calls to […]
FinCEN publishes FAQs on the new Customer Due Diligence/Beneficial Ownership Rule
FinCEN published the long-awaited, and much-anticipated, FAQs on the new customer due diligence/beneficial ownership rule, which comes into effect on […]