Treasury Scales Back Scrutiny of U.S. Shell Companies | HappeningNow.news

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Treasury Scales Back Scrutiny of U.S. Shell Companies

The US Treasury Department has announced a significant shift in its approach to regulating shell companies.

Source NYT AI Summary Updated 1h 19m ago
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The US Treasury Department has announced a significant shift in its approach to regulating shell companies. The department has decided to scale back its scrutiny of these companies, which are often used for illicit financial activities such as money laundering. This move is notable because it reverses a policy implemented under the 2021 Corporate Transparency Act, which aimed to increase transparency and accountability in corporate dealings.

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