The Shell Game: Trump's Latest Move to Shield Corruption The US government had made significant strides in tackling anonymous shell companies that enable corruption and money laundering.
However, this week's decision by the Treasury Department to gut the Corporate Transparency Act is a reversal of progress, effectively re opening the floodgates for illicit wealth.
In 2021, Congress passed the bipartisan Corporate Transparency Act, which aimed to curb the use of shell companies as conduits for corruption by requiring corporate owners to disclose their identities.