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OPINION: Why the US neutering beneficial ownership (BOI) rules is a win for criminals

Premium March 3, 2025

CTA: U.S. Secretary of the Treasury Scott Bessent said the effective suspension of beneficial ownership information (BOI) rules is part of President Trump’s (pictured) agenda to "unleash American prosperity by reining in burdensome regulations".

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By SARAH BETH FELIX, Special Correspondent

THE Department of the Treasury has announced that a rule requiring small businesses to report beneficial ownership information (BOI) is effectively dead in the water.

The key AML law, which would have obliged millions of business entities to disclose the identities of their real beneficial owners, will not be enforced for U.S. citizens or U.S. companies.

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NEWS: Ex-Credit Suisse executive Lara Warner fined for failing to report suspicious transactions

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NEWS: South Africa aims to exit FATF greylist in October

Dmitry Ovsyannikov Premium

NEWS: Putin ally Dmitrii Ovsiannikov first to be prosecuted for breaching UK sanctions

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