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The Bulwark
@thebulwark.com

"Treasury says it still mandates disclosure of ownership of foreign shell companies. This may be technically true as a matter of following the letter of the law, but the administration crafted loopholes big enough to drive a cocaine-packed truck through."

lnk.thebulwark.comTrump’s Gift to the Money LaunderersTreasury isn’t merely shutting down an anti-corruption database. It’s deleting the data so future investigators can’t use it.

47 reposts115 likes

marti418.bsky.social
@marti418.bsky.social

Seriously! Who sets up multiple shell corporations to evade tax laws and to launder money? Are we really supposed to believe it’s mainly foreign companies? I was in commercial banking. All that we required was a one-page document to be in compliance with the law.

havy2
@havy2.bsky.social

The step to require real disclosure of shell company ownership was THE biggest step auS ever topk to clamp down on serious corruption snd hiding wealth. And history’s most corrupt US administration just recinded it for all practical purposes.