Page 24 - Greg Baer News Today : Breaking News, Live Updates & Top Stories | Vimarsana

US Congress Bans Anonymous Shell Companies WASHINGTON—The U.S. Senate on Dec. 11 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. Cracking down on legal vehicles that allow criminals and terr...

Clark Gascoigne’s entire career has been about ending anonymous shell companies. Starting at Global Financial Integrity in 2009 and then at the Financial Accountability and Corporate Transparency Coalition, Gascoigne has been on a mission to inject transparency into the ocean of anonymously owned corporate entities that can hide all manner of financial malfeasance. He and other advocates moved closer to success on Dec. 8, when the House passed the National Defense Authorization Act, with provisions that would establish a beneficial corporate ownership reporting regime and change other an...

Clark Gascoigne’s entire career has been about ending anonymous shell companies. Starting at Global Financial Integrity in 2009 and then at the Financial Accountability and Corporate Transparency Coalition, Gascoigne has been on a mission to inject transparency into the ocean of anonymously owned corporate entities that can hide all manner of financial malfeasance. He and other advocates moved closer to success on Dec. 8, when the House passed the National Defense Authorization Act, with provisions that would establish a beneficial corporate ownership reporting regime and change other an...

Cracking down on the vehicles that allow criminals and terrorists to move money around the world is a pressing issue.

Washington has made a move to take the wraps off anonymous shell companies, as an annual defense bill passed by Congress includes measures aimed at such...