Tom Malinowski: Corporate Transparency Act Makes It Harder for Criminals to Hide Money Through Shell Companies

RUSH EXCERPT:

MALINOWSKI: “Yeah. He’s got to execute the law passed by anyway, whatever the the interesting question is like who has standing to sue here? Because it can be challenged, obviously, but you have to have somebody who can show they’ve been harmed by the administration’s refusal to enforce this law. And I’ll tell you, one good candidate would be the state attorneys general. And here’s why. The when people businesses register under this law, their their company ownership information, it doesn’t go on a public list. It’s very, very private. It’s held by the Treasury Department, and it’s there for law enforcement agencies, including state law enforcement agencies, to consult with if they’re investigating a crime. So, you know, let’s say you’re a prosecutor in New York City, you’re pursuing some financial crime investigation. You run into a shell company, some mysterious company that’s involved in the dirty business."