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Money Laundering Protected: good for criminals, bad for Us [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-03-02
Reuters reporting that US Treasury Department will no longer enforce an anti-money laundering law that would have revealed actual owners. The maladministration claims that transparency would be a “burden” on organizations that do not like revealing who their actual beneficial owners are.
If you are a money launderer, then this is great news as you can hide your illegal activities more easily. If you are evading taxes, then this likely protects you too. If you are a drug cartel, then this removes an obstacle to increasing your operations in the US. If you are bribing government officials, then both you and the officials have one less thing to worry about.
If you are a law-abiding citizen, then this means more crime, more drugs, more corruption, and less taxes paid by criminals. In no way will this decision improve your life, and in many ways it will make things worse.
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