They have nothing to do with Trump hence are not newsworthy.
Trump administration has effectively halted enforcement of and gutted the core domestic requirements of the
Corporate Transparency Act, a key anti-money laundering law designed to unmask anonymous U.S. shell companies. The U.S. Department of the Treasury's Financial Crimes Enforcement Network (
FinCEN) issued final rules permanently exempting most U.S.-formed domestic companies from reporting their beneficial owners.
Marco Rubio was instrumental in creating and championing the Corporate Transparency Act (CTA), which the Trump administration's Treasury Department effectively rolled back by ending ownership-reporting rules for U.S. businesses. At the time, Rubio celebrated the bill as "
the most significant anti-corruption and money laundering law in decades,"
praising it for forcing anonymous shell companies to disclose their true owners to law enforcement
.
The administration moved to halt data collection and eliminate previously gathered ownership information for domestic shell companies. Treasury Secretary Scott Bessent defended the move as “
a victory for common sense” and a way to cut burdensome red tape and regulations for business entities that only exist on paper with no active operations, office, or employees.
www.winstontaylor.com
Criminals route dirty money through multiple layered shell companies across different countries to hide the real source of the funds, and certain individuals and multinational corporations use shell entities in tax havens to illegally hide income or legally minimize tax obligations, and some people use shell companies to hide wealth from creditors, governments, or during divorce proceedings.
In a final rule issued today, the U.S. Department of the Treasury announced that it will no longer mandate detailed disclosure of American companies under the Corporate Transparency Act (CTA). Furthermore, the data the government already has will be deleted. This is a major policy win for...
www.ntu.org
Corrupt actors and sanctioned entities use anonymous shell firms to conduct illegal trade or pay bribes undetected, and anti-corruption groups and lawmakers warn that removing domestic beneficial ownership requirements hands drug cartels, Chinese money-laundering networks, and transnational criminals an easy mechanism to move and hide illicit funds, so the rollback directly undercuts the Trump administration's stated hardline stance against drug cartels and fentanyl trafficking, despite the White House simultaneously using the fentanyl crisis as a justification for aggressively illegal trade tariffs.
Life in the Trump era keeps getting easier for criminal fraudsters. Former Rep. Tom Malinowski talks with Jen Psaki about how Donald Trump is steadily dismantling the tools for catching and prosecuting criminals, and why the news that Trump's Treasury Department will stop enforcing the Corporate...
apple.news
The Treasury Department’s final rule exempting U.S. based companies from the Corporate Transparency Act’s reporting requirements undermines the clear intent of the law. The Act gave the federal government needed tools to address criminal activity like human trafficking, terrorist financing, drug distribution, sanctions evasion, and more without unduly burdening legitimate commercial entities. This decision is an unfortunate one that fails to use all available tools to protect Americans and crack down on illicit financial schemes.
Whitehouse & Grassley helped pass groundbreaking law to prevent abuse of U.S. incorporation laws Washington, DC – U.S. Senators Sheldon Whitehouse (D-RI) and Chuck Grassley (R-IA) today released the following statement on the U.S. Financial Crimes Enforcement Network’s (FinCEN’s) decision to...
www.whitehouse.senate.gov
It’s unfortunate for the average American, but it’s only “
common sense” to make it easier to launder money for the select few that need to hide assets, etc…
