Mnuchin Seeks Shell Company Changes Within Six Months

Treasury Secretary Steven Mnuchin told lawmakers that he wants to make corporate ownership information available to law enforcement within the next six months.

Mr. Mnuchin on Thursday said he supports legislative changes that would deter money laundering and the financing of terrorism through the use of shell companies. Anonymous or shell companies are legal but they can be easily abused to hide or move illicit funds into the U.S., cleansing the money for potential use.