Larry Laubach is quoted in Corporate Compliance Insights discussing the Corporate Transparency Act (CTA), highlighting its significance as the most substantial reform to U.S. anti-money laundering laws in a generation.

“Neither the federal government nor FinCEN has done a good job of publicizing the CTA,” Larry says.

Despite having a couple of years to prepare, a survey conducted in October 2023 revealed that approximately 75% of respondents were only made aware of the reporting requirements through the survey. The insufficient publicity of the CTA will likely result in challenges and potentially impact companies and various industries, including the estimated 33 million companies required to file ownership reports over the next 15 months.

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