On December 8, 2021, the Financial Crimes Enforcement Network (FinCEN) took a key step toward implementing the highly anticipated beneficial ownership information (BOI) reporting requirements
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Following the enactment of the Anti-Money Laundering Act of 2020
(AMLA), which encompasses the Corporate Transparency Act (CTA), the
Financial Crimes Enforcement Network (FinCEN) published an
Advance Notice of Proposed Rulemaking (ANPR) on April 5, 2021,
to implement Section 6403 of the CTA, relating to beneficial
ownership reporting. In the ANPR, FinCEN solicits comment within 30
days on 48 questions that cover, among other topics, reporting
requirements, the beneficial ownership registry, and disclosure of
beneficial ownership information (BOI) to third parties. Our Client
Alert on the AMLA is available here.
Date
11/02/2021
Financial services organizations are increasingly challenged to efficiently screen parties and payments against required sanctions lists. With these requirements in mind,
NICE Actimize, a NICE (Nasdaq: NICE) business, announces the launch of WL-X, its breakthrough, next-generation Watch List (WL) screening solution leveraging the power of artificial intelligence for superior data management, advanced screening capabilities and frictionless customer onboarding.
NICE Actimize’s WL-X features real-time and on-demand screening for parties and payments that leverages AI and biometrics to match and screen against global sanctions, politically-exposed persons (PEPs), adverse media and other lists. The solution also orchestrates and aggregates list data from premium and public sources with internal lists providing full auditability to ensure accurate screening.