{"id":39198,"date":"2025-03-02T20:58:00","date_gmt":"2025-03-03T02:58:00","guid":{"rendered":"https:\/\/ustower.net\/?p=39198"},"modified":"2025-03-03T02:01:43","modified_gmt":"2025-03-03T08:01:43","slug":"us-treasury-department-says-it-will-not-enforce-anti-money-laundering-law","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=39198","title":{"rendered":"US Treasury Department says it will not enforce anti-money laundering law"},"content":{"rendered":"\n<p class=\"has-medium-font-size\">March 2 (Reuters) &#8211; The U.S. Treasury Department said on Sunday it would not enforce an anti-money laundering law that obliges millions of business entities to disclose the identities of their real beneficial owners.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The Trump administration has opposed the Biden-era Corporate Transparency Act on the grounds that it is a burden on low-risk entities. The act has faced repeated legal&nbsp;<a href=\"https:\/\/www.reuters.com\/world\/us\/texas-judge-clears-way-anti-money-laundering-laws-enforcement-2025-02-18\/\"><u>challenges<\/u><\/a>.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">In a statement, the Treasury Department said it would not enforce any penalties under the act against U.S. citizens or domestic reporting companies.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">&#8220;Treasury takes this step in the interest of supporting hard-working American taxpayers and small businesses,&#8221; it said, adding that it intended to issue a rule to narrow the scope of the act to foreign reporting companies.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The measure&#8217;s supporters say it was designed to address the growing popularity of the United States as a venue for criminals to launder illicit funds.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/www.reuters.com\/world\/us\/us-treasury-department-says-it-will-not-enforce-anti-money-laundering-law-2025-03-03\/\">reuters<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>March 2 (Reuters) &#8211; The U.S. Treasury Department said on Sunday it would not enforce an anti-money laundering law that obliges millions of business entities to disclose the identities of their real beneficial owners. The Trump administration has opposed the Biden-era Corporate Transparency Act on the grounds that it is a burden on low-risk entities. [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":39199,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[32533,32057,32532],"class_list":["post-39198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-anti-money-laundering-law","tag-enforce","tag-us-treasury-2"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/39198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39198"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/39198\/revisions"}],"predecessor-version":[{"id":39200,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/39198\/revisions\/39200"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/39199"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}