In a recently published letter (dated 7 April 2016), U.S. Department of the Treasury’s Deputy Under Secretary for Legislative Affairs Anne Wall responded to a letter from Senate Finance Committee member Ron Wyden, D-OR on issues related to terror financing and tax evasion, including the lack of transparency on beneficial ownership. In the letter, Deputy Under Secretary Wall stated that Treasury is working on finalizing a proposed customer due diligence rule that would strengthen the customer due diligence obligations of financial institutions, as well as their responsibilities to know the identities of the real people who own or control legal...