This is grim Trump admin moves to gut anti-money laundering law

This is grim Trump admin moves to gut anti-money laundering law- The Trump administration announced Sunday it will cease to enforce penalties and fines on businesses that fail to adhere to beneficial ownership financial reporting requirements under the Corporate Transparency Act, an anti-money laundering law passed by Congress in 2021. The announcement was panned by advocates, economists, and other critics who called the move an on-ramp for corruption.The Corporate Transparency Act, a bipartisan effort, includes a rule that requires many corporations and limited liability companies to disclose information on who owns and controls a business entity (also…

Source: alternet.org