U.S. Treasury Halts Enforcement of Corporate Transparency Act, Weakening Anti-Money-Laundering Efforts

The Trump administration has announced it will not enforce the reporting requirements of the 2021 Corporate Transparency Act, a law designed to combat money laundering by requiring U.S. shell companies to disclose their beneficial owners. This decision, reported by the New York Times, effectively scales back federal scrutiny of anonymous corporate entities, which experts say are often used to hide illicit funds. The move comes amid broader concerns about financial crime enforcement, as separate reports highlight gaps in policing insider trading and the unintended consequences of anti-money-laundering rules on small businesses.