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24 attorneys general push for shell company transparency

Jaclyn Jaeger | August 3, 2018

Washington Attorney General Bob Ferguson on Aug. 2 led a bipartisan group of 24 attorneys general to urge leadership of the House Financial Services Committee to advance legislation improving transparency of shell corporations by requiring them to disclose who controls and profits from their activities.

Anonymous shell corporations can be used to obscure participants in financial transactions and can also allow criminals to launder money without accountability. State law enforcement investigations can stall when the identity of the individuals who control or profit from the companies is hidden.

“Our laws should not enable criminals to exploit these loopholes for their financial gain,” Ferguson said. “We must ensure that our investigators have the information and access they need to solve crimes.”


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