ABA’s ‘No’ To Anti-Money Laundering Bills Sparks Dissent

Law360 (March 2, 2018, 5:31 PM EST) — The American Bar Association’s hard-line stance against a pair of anti-money laundering bills being considered by Congress that it says threaten the attorney-client relationship has stirred dissent inside and outside the organization about U.S. lawyers’ proper role in stemming the global flow of illegal money, experts say.

In light of the Panama Papers leak and a “60 Minutes” exposé showing U.S. lawyers freely offering advice on hiding money for an undercover investigator posing as a shady foreign official, the ABA’s opposition to proposed corporate formation transparency…

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