Bloomberg Law Analysis

ANALYSIS: AML Groundhog DayU.S. LLCs, Global Money Laundering

June 13, 2019, 12:43 PM

Anti-money laundering (AML) regulatory enforcement has been repeating actions of more than a decade ago since 2017, as noted in the preceding part of this series, and Congress has been doing it as well. The seventh attempt by Congress since 2006 to enact a federal law addressing AML issues created by state laws allowing anonymity in the ownership of limited liability companies (LLCs) is currently in progress.

Six failures in 12 years to enact legislation on this issue reflect bipartisan inattention that has contributed to the development of a U.S. AML regime that some of the regulators who created it...

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