Beneficial Ownership Reforms 'Vital' To Money Laundering Fight, Say U.S. Officials

Amid continued efforts to combat money laundering in the United States, officials are keeping their crosshairs on the use of shell companies to facilitate financial crimes and urging stricter beneficial ownership disclosure requirements to thwart the use of such tactics.

The U.S. Senate Committee on Banking, Housing and Urban Affairs held a second recent hearing on the issue of money laundering on Tuesday, following an initial session in November last year.

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