New law cracks down on shell companies to combat corruption

FILE - This Thursday, June 6, 2019 file photo shows the U.S. Treasury Department building at dusk in Washington. The Corporate Transparency Act, enacted into law on Jan. 1, 2021, seeks to strengthen controls by creating a registry managed by the Treasury Department that will contain the names of the true owners of both domestically-created shell companies as well as foreign ones conducting business in the U.S. (AP Photo/Patrick Semansky)
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