Yellen says 100,000 firms have joined a business database aimed at unmasking shell company owners

Published January 8, 2024 10:37 AM

By FATIMA HUSSEIN
Associated Press

VIENNA, Va. (AP) — Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database of that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.” She also says Treasury is considering boosting rules related to commercial real estate transactions. Treasury says illicit actors laundered at least $2.3 billion through U.S. real estate between 2015 and 2020. Yellen on Monday visited Treasury’s Financial Crimes Enforcement Network in Virginia to discuss the initiative.

Article Topic Follows: AP-National

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