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Beware of Corporate Transparency Act Scams and Fraud - The National Law Forum
Corporate Transparency Act CTA scams frauds

Beware of Corporate Transparency Act Scams and Fraud

The Corporate Transparency Act’s (CTA) Beneficial Ownership Information reporting requirements are set to take effect on January 1, and bad actors are already using the CTA’s requirements to solicit unauthorized access to Personally Identifiable Information. To that end, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a warning regarding such scams. FinCEN describes these efforts as follows:

“The fraudulent correspondence may be titled “Important Compliance Notice” and asks the recipient to click on a URL or to scan a QR code. Those e-mails or letters are fraudulent. FinCEN does not send unsolicited requests (emphasis added). Please do not respond to these fraudulent messages, or click on any links or scan any QR codes within them.”

© 2023 Varnum LLP
For more news on Corporate Transparency Act Scams and Fraud, visit the NLR Corporate & Business Organizations section.

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One thought on “Beware of Corporate Transparency Act Scams and Fraud”

  1. FinCEN Guidance offers an online solution for Beneficial Ownership Information (BOI) reporting, required for many LLCs, corporations, LPs, and LLPs from January 2024. It simplifies compliance with the Financial Crimes Enforcement Network’s regulations by providing an intuitive, secure platform. The service is tailored for both single and multiple reporting companies, catering to small businesses and compliance professionals. FinCEN Guidance emphasizes ease of use, security, and accuracy in meeting legal requirements, enabling businesses to focus on their core operations without the stress of complex regulatory compliance.

    For more detailed information, please visit: FinCEN Guidance – https://fincenguidance.com/

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