New law cracks down on shell companies to combat corruption

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A watershed reform of U.S. money laundering laws could allow investigators to uncover the proceeds of foreign bribery, drug trafficking and terrorism in just a few keystrokes

The Independent would like to keep you informed about offers, events and updates by email, please tick the box if you would like to be contactedIt was introduced by Rep. Carolyn Maloney, a New York Democrat, in 2010 and early on faced opposition from banks and business groups worried about red tape as well as states such as Delaware and Wyoming, which reap important revenues from the registration every year in the U.S. of nearly 2 million corporations and limited liability companies.

 

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