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USA passes legislation that ends fully anonymous shell companies

An anti-corruption measure ending anonymous companies in the United States was passed on 1 January 2021 as part of the National Defense Authorization Act, following a more than decade-long campaign by transparency advocates.

Ian Gary, Executive Director of the Financial Accountability and Corporate Transparency (FACT) Coalition, which led the organizing effort, praised the enactment of the Corporate Transparency Act: "After more than a decade-long campaign to end the formation of anonymous shell companies that are abused by the criminal and the corrupt, the United States has enacted historic reforms to protect Americans and our financial system from abuse... For years, experts routinely ranked anonymous shell companies — where the true, ‘beneficial’ owners are unknown — as the biggest weakness in our anti-money laundering safeguards."