24 US ATTORNEY GENERALS CALL FOR AN END TO ANONYMOUS SHELL COMPANIES

US PIRG on 3rd August reports that a bipartisan letter from the Attorney Generals of 24 US states to the US Congress which states that investigations into human trafficking, fraud, drug trade, and other crimes often stall when investigators cannot access information about the real owner of companies used to launder ill-earned money; and by requiring companies to provide information about their beneficial owner before incorporation, investigators would be able to better follow the money.  It notes that Recently, the US Treasury Secretary said that he aims to make beneficial ownership information accessible to law enforcement within the next 6 months.

https://uspirg.org/news/usp/us-pirg-applauds-attorneys-general-issuing-call-end-anonymous-shell-companies

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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