Laundering money generated in the drug trade. The United Nations Office on Drugs and Crime estimates that between $800 billion to $2 trillion is laundered annually. Laundering money intended to support terrorism. The International Monetary Fund is concerned about terrorism financing, and proliferation financing, providing funds for nuclear, chemical, or biological weapons. Money that is embezzled or other schemes also must be laundered, that is, if you're a criminal or criminal enterprise.
As of Jan. 1, 2024, domestic and foreign entities registered to do business in the United States must comply with new “beneficial ownership reporting requirements” imposed under the Corporate Transparency Act.
Listen to what veteran attorney Lori Smith of Stradley Ronon has to say about the Act, something 30 million companies will have to follow during the Act's first year. Lori provides insights for business executives and attorneys on key facets of the requirements, potential penalties, and chances for litigation.
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This podcast is the audio companion to the Journal of Emerging Issues in Litigation. The Journal is a collaborative project between HB Litigation Conferences and the vLex Fastcase legal research family, which includes Full Court Press, Law Street Media, and Docket Alarm.
If you have comments, ideas, or wish to participate, please drop me a note at Editor@LitigationConferences.com.
Tom Hagy
Litigation Enthusiast and
Host of the Emerging Litigation Podcast
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