A Good Start

Congress just passed a bill requiring that shell companies detail who their beneficiaries are.

This means that the shenanigans like Wyoming corporations will hopefully be a thing of the past:

The U.S Senate on Friday passed a bill overhauling anti-money laundering rules and banning anonymous shell companies, a victory for law enforcement and rights groups which have long sought changes to make it easier to police illicit money flows.

The bill requires most companies to report their true beneficial owners to the government, allows greater information sharing between law enforcement and regulators, and authorizes the use of new suspicious activity monitoring tools.

Unfortunately, it does not make this information available to the general public, which it should, but it is a marked improvement on the status quo.

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