Skip to content

US Treasury secretary indicates no enforcement of anti-money laundering law

Header US does not enforce anti-money laundering law.

Summary

The US stops enforcement of an anti-money laundering law for domestic companies, prompting criticism over its impact on anti-money laundering.  

10/03/2025

The US Treasury Department has announced it is shutting down enforcement of anti-money laundering measures. The decision follows objections from the Trump administration, which viewed the Corporate Transparency Act introduced in the Biden era as an unnecessary burden on low-risk small businesses. The law has since been repeatedly challenged. In a statement, the ministry said it would not impose sanctions on Americans or domestic companies under this law. ‘The ministry is taking this step in the interest of hardworking American taxpayers and small businesses,’ the statement spoke. The ministry plans to draft a rule limiting the application of the law to foreign companies. Proponents warn that halting enforcement on money laundering could worsen the situation.  

Want to know more about this? Check Reuters.

 

Tags