U.S. bans anonymous shell companies
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Congress overrode Trump’s veto of the defense authorization act with an overwhelming bipartisan majority, the first veto override of his disastrous presidency that mercifully ends in 19 days.
One part of the bill is this anti-money laundering regulation that will mean the United States is no longer the easiest place to hide money in the world.
An historic anti-corruption measure ending anonymous companies in the United States became law on Friday, capping a more than decade-long campaign by transparency advocates, after both Chambers of Congress voted to override the president’s veto of the annual defense bill. The Financial Accountability and Corporate Transparency (FACT) Coalition, which led the organizing effort, praised the enactment of the Corporate Transparency Act, which was included in the National Defense Authorization Act.