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FinCEN Files show need to improve beneficial owner rules, top NY enforcer says

By Richard Vanderford ( October 1, 2020, 20:37 GMT | Insight) -- The so-called FinCEN Files reporting has shone a spotlight on weaknesses in the financial crime enforcement regime, the head of the New York State Department of Financial Services said. The difficulty in tracking down the real beneficial owners of companies needs to be addressed, NYSDFS Superintendent Linda Lacewell said. Lacewell also spoke of the NYSDFS's considerations when deciding whether or not to impose monitors.The so-called FinCEN Files reporting has shone a spotlight on weaknesses in the financial crime enforcement regime, the head of the New York State Department of Financial Services said....

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