Sec. 6002. PURPOSES
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## SEC. 6002 PURPOSES **[**[31 U.S.C. 5311 note](/us/usc/t31/s5311)**]** The purposes of this division are— ####
(1)to improve coordination and information sharing among the agencies tasked with administering anti-money laundering and countering the financing of terrorism requirements, the agencies that examine financial institutions for compliance with those requirements, Federal law enforcement agencies, national security agencies, the intelligence community, and financial institutions; ####
(2)to modernize anti-money laundering and countering the financing of terrorism laws to adapt the government and private sector response to new and emerging threats; ####
(3)to encourage technological innovation and the adoption of new technology by financial institutions to more effectively counter money laundering and the financing of terrorism; ####
(4)to reinforce that the anti-money laundering and countering the financing of terrorism policies, procedures, and controls of financial institutions shall be risk-based; ####
(5)to establish uniform beneficial ownership information reporting requirements to— #####
(A)improve transparency for national security, intelligence, and law enforcement agencies and financial institutions concerning corporate structures and insight into the flow of illicit funds through those structures; #####
(B)discourage the use of shell corporations as a tool to disguise and move illicit funds; #####
(C)assist national security, intelligence, and law enforcement agencies with the pursuit of crimes; and #####
(D)protect the national security of the United States; and ####
(6)to establish a secure, nonpublic database at FinCEN for beneficial ownership information.
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U.S. Code