IMF Staff Country Reports

United States: Financial Sector Assessment Program-Anti-Money Laundering And Combating The Financing Of Terrorism (Aml/Cft)-Technical Notes

July 7, 2015

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United States: Financial Sector Assessment Program-Anti-Money Laundering And Combating The Financing Of Terrorism (Aml/Cft)-Technical Notes, (USA: International Monetary Fund, 2015) accessed October 6, 2024

Summary

This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the United States in the areas of anti-money laundering and combating the financing of terrorism (AML/CFT). The United States’ AML/CFT legal and institutional framework has yet to address deficiencies identified in the most recent Financial Action Task Force mutual evaluation report regarding ownership information for U.S. corporations and trusts. In particular more rapid progress is needed to enhance transparency of legal persons to bolster financial system integrity. Trusts have a different legal and institutional framework, and draft regulations have been produced to strengthen financial institutions’ obligations. These measures are however progressing slowly.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Business enterprises, Crime, Economic sectors, Financial Sector Assessment Program, Financial sector policy and analysis, Legal support in revenue administration, Revenue administration

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Authority, Beneficial ownership, BO information, Business enterprises, CFT framework, CFT obligation, CFT system, Corporation, CR, FATF recommendation, Financial Sector Assessment Program, Global, IRS investigator, ISCR, Legal support in revenue administration, Trust

Publication Details

  • Pages:

    18

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2015/174

  • Stock No:

    1USAEA2015010

  • ISBN:

    9781513530147

  • ISSN:

    1934-7685

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