Supreme Court Allows Enforcement Of Anti-Money Laundering Law

The U.S. Supreme Court has cleared the way for enforcing a federal anti-money laundering law requiring corporate entities to disclose their beneficial owners to the Treasury Department. The court stayed a nationwide injunction issued in December by a Texas judge who ruled that Congress exceeded its constitutional authority in passing the 2021 law. The injunction had halted compliance with the law’s reporting requirements, designed to combat financial crimes such as money laundering and tax fraud.