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Treasury Awaits Key Role in Shell Company Transparency Push

Dec. 15, 2020, 7:01 AM

The Treasury Department, in addition to adjusting to the new president, is poised to place an ambitious initiative on its new year agenda—fighting money laundering.

Congress last week cleared the annual defense spending bill, which contained updates to the system for policing financial crime, such as effectively banning the use of anonymous shell companies.

The 2021 National Defense Authorization Act (NDAA) faces a possible veto by President Trump, leaving the future of these changes hanging in the balance.

The proposals mark a comprehensive effort by the federal government to bring clarity to the company formation process, after having left such ...

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