Corporate Transparency Act (CTA) Enforcement Update: Suspension and Proposed Rule Changes
Introduction In 2021, Congress enacted the Corporate Transparency Act (CTA) to enhance transparency in corporate ownership, aiming to combat illicit financial activities such as money laundering and fraud. The CTA mandates that certain business entities disclose their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the […]
