[A] bipartisan group of Senators on the US Senate Banking Committee has introduced a major bill that would tackle corruption and crime by ending the use of anonymously-owned companies in the US. Global Witness welcomes these Senators’ efforts to shine a light on anonymous companies, which are regularly used by individuals in the US and around the world who seek to hide their ill-gotten gains and avoid accountability for their misdeeds. 

.. The Improving Laundering Laws and Increasing Comprehensive Information Tracking of Criminal Activity in Shell Holdings (ILLICIT CASH) Act (S.2563) would, for the first time, require companies formed in the U.S. to disclose their true owners to the U.S. Department of Treasury, keep that information up to date and make it accessible upon request to law enforcement and other authorities... The introduction of this bill mirrors related efforts in the House, where a similar bill tackling beneficial ownership has recently advanced.