CTA

E331254

CTA is a U.S. federal law aimed at combating money laundering and other illicit financial activities by requiring certain companies to disclose information about their beneficial owners.

All labels observed (1)

Label Occurrences
CTA canonical 2

How this entity was disambiguated

Statements (44)

Predicate Object
instanceOf United States federal law
abbreviation CTA
accessToDataGrantedTo certain federal functional regulators
certain state and local law enforcement agencies with court authorization
federal law enforcement agencies
financial institutions with customer consent for customer due diligence purposes
addressesProblem lack of transparency in company ownership structures
appliesTo certain corporations
certain limited liability companies
other similar entities formed by filing with a U.S. state or tribal authority
beneficialOwnerDefinitionIncludes individuals who exercise substantial control over a reporting company
individuals who own or control at least 25 percent of the ownership interests of a reporting company
containsProvision civil penalties for willful failure to report beneficial ownership information
criminal penalties for willful failure to report beneficial ownership information
penalties for willfully providing false or fraudulent beneficial ownership information
countryOfJurisdiction United States
creates a non-public beneficial ownership information database maintained by FinCEN
definesTerm beneficial owner
enforcedBy Financial Crimes Enforcement Network
enforcedByAbbreviation FinCEN
exempts certain large operating companies meeting statutory criteria
certain regulated entities such as banks
implementedThrough FinCEN regulations on beneficial ownership information reporting
informationFiledIncludes date of birth of beneficial owners
full legal name of beneficial owners
residential or business address of beneficial owners
unique identifying number from an acceptable identification document
legalDomain anti-money laundering law
corporate transparency law
objective assist law enforcement in identifying the true owners of companies
increase corporate transparency in the United States
protect the U.S. financial system from illicit use
policyGoal enhance compliance with U.S. sanctions and anti-corruption efforts
reduce the use of anonymous shell companies
purpose combat money laundering
combat other illicit financial activities
combat terrorist financing
regulator U.S. Department of the Treasury
relatedTo Bank Secrecy Act
anti-money laundering regulations in the United States
requiresDisclosureOf beneficial ownership information
requiresFilingWith Financial Crimes Enforcement Network
scope applies to certain foreign reporting companies registered to do business in the United States
applies to domestic reporting companies

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

Corporate Transparency Act abbreviation CTA
subject linked to: CTA