This can only be a good thing and the orginators should be applauded. WIsh I knew more about who does NOT have to comply. US Companies Suddenly Mandated To Reveal Ownership Under New Law (msn.com) Treasury Secretary Janet Yellen has announced that 100,000 businesses have joined a new database collecting “beneficial ownership” information to reveal shell company owners. This effort aims to increase corporate transparency and prevent the misuse of shell companies. Yellen also discussed upcoming real estate rules to enhance transparency in property ownership. Yellen said, “Around the world, lack of transparency, specifically due to opaque corporate structures, makes it easier to conceal illicit activity.” “Information on beneficial ownership will support our law enforcement colleagues in making arrests, prosecuting offenders, and seizing ill-gotten assets,” she continued. “The benefits of increasing corporate transparency through gathering beneficial ownership information —put simply, knowing who owns what — start with protecting our national security,” explained the Biden official.
Corporate Transparency Act — What You Need to Know (uschamber.com) FACT SHEET: U.S. Department of the Treasury Actions to Prevent and Disrupt Corruption | U.S. Department of the Treasury lot of russian money laundered through us real estate. word is they used to pay a premium for trump properties because Trump Org never questioned source of funds
