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NEWS: FATF upgrades US to ‘largely compliant’ on beneficial ownership; move welcomed by Yellen

FATF: "The United States’ upgraded rating is a result of nearly a decade of hard work by the Treasury Department, along with our interagency partners, to stop the flow of dirty money through anonymous companies,” Secretary of the Treasury Janet L. Yellen said.

By AML Intelligence Correspondent THE United States has been upgraded to “largely compliant” with FATF’s Recommendation 24 on beneficial ownership transparency for legal persons, it was announced today. FATF published its updated rating in the Seventh Enhanced Follow-Up Report on the United States, which was seen as a win for the Treasury’s efforts to increase…

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