It’s easy to say- maybe even fashionable to say- that criminals use companies in the United States to carry out illegal activities. The terms “illegal” and “illicit” show up 118 times in a rule issued yesterday by the Treasury Department concerning a new mandate for companies to report the names, ranks, and serial numbers of their owners. The new rule, entitled “Beneficial Ownership Information Reporting Requirements,” becomes the law of the land on January 1, 2024.The rule is supposed to...

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