By PAUL O’DONOGHUE NEW beneficial ownership reporting requirements are set to cost U.S. financial institutions a combined total of approximately $200 million per year once operational, FinCEN has said. The organisation, the AML unit of the U.S. Department of the Treasury, said the cost would be significantly higher in the first year, at approximately $686…
Analysis, Banking, Compliance, News, Regulatory, US
INSIGHT: FinCEN estimates beneficial ownership reporting will cost U.S firms $200m per year
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