A bipartisan group of eight U.S. senators on [the Senate Committee on Banking, Housing, and Urban Affairs] introduced legislation [on 26 September] to update federal anti-money laundering laws and end the incorporation of anonymous companies in the U.S.... [T]he Improving Laundering Laws and Increasing Comprehensive Information Tracking of Criminal Activity in Shell Holdings... Act [and a similar version of the bill, titled the Corporate Transparency Act of 2019, from the U.S. House of Representatives] would require companies to disclose their true owners when they incorporate and keep their ownership information up-to-date. Gary Kalman, the executive director of the Financial Accountability and Corporate Transparency (FACT) Coalition, [said]..."For years, rogue actors have been using anonymous companies formed in the U.S. to evade sanctions and finance terrorist networks.  Human trafficking operations and drug cartels launder money through secret U.S. company structures, and corrupt foreign officials exploit the loopholes in our laws to hide the funds they pilfer from national treasuries.  The ILLICIT CASH Act is a direct and effective response to the dangers and devastation that result from the lack of safeguards to protect our financial system from abuse...The current lack of information on company ownership is now widely recognized as the critical missing piece of information in tracking bad actors..."