Article Anti-Corruption Report

A Quick Look at New Regulations to Address National Security Threats in Shell Company and Digital Currency Transactions

Recently, FinCEN has taken steps to implement two new regulatory regimes designed to address national security threats in modern financial transactions, one dealing with digital currency and one imposing new beneficial ownership reporting requirements. In a guest article for Anti-Corruption Report, Kirkland partners Mario Mancuso and Sanjay Mullick, and associate Carrie Schroll, take a quick look at those developments and provide key takeaways. 

The article discusses the regulations' reflection of an effort to provide U.S. government agencies with more effective tools to detect and prevent national security threats, digital currency concerns and threats, transaction transparency concerns and developments, and a preview of FinCEN's CTA priorities.

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This article appeared in its entirety in the April 28, 2021, edition of Anti-Corruption Report.