... (FinCEN) Anti-money laundering Bank Secrecy Act (BSA) Beneficial owner Counter-financing of terror (CFT) Reporting company On New Year’s Day, Congress overrode President Trump’s veto of the National Defense Authorization Act (NDAA) for the 2021 fiscal year, turning the bill into law without...

... to identify beneficial owners and verify their identities), and suggests certain due diligence procedures firms can use to screen foreign correspondent accounts. Findings – One of the fundamental risks that firms face when dealing with foreign correspondent accounts is not knowing their customers...