News

A bipartisan group of U.S. lawmakers proposed legislation to extend anti-money laundering rules to accountants, real estate agents, attorneys and other currently exempted professionals after millions of leaked records underscored their critical role in hiding assets across the world. The Establishing New Authorities for Business Laundering and Enabling Risks to Security Act, or ENABLERS Act, would impose AML obligations on investment advisers, art dealers, trust and corporate services providers, accountants, payment processors, and public relations and marketing firms by defining them as financial institutions under the Bank Secrecy Act. Attorneys, law firms and notaries that directly provide financial services to...