Senators Propose Bill to Fulfill U.S. Obligations under FATF and OECD on Entity Transparency

On May 1, 2008, Senators Carl Levin and Barrack Obama introduced the Incorporation Transparency and Law Enforcement Assistance Act (ITLEA). The purpose of the Act is to protect the U.S. from U.S. corporations being misused to commit terrorism, money laundering, tax evasion, or other misconduct. If it is enacted, the bill will help satisfy the U.S. obligations under Rule 34 of the Financial Action Task Force Recommendations...[more]