Wednesday, March 05, 2025

Mini-Post: Crooks & Thieves!

Fraudsters, crooks, and thieves are applauding Trumps & Company newest decree!
The Trump administration won’t enforce a Treasury Department rule requiring shell companies to disclose their owners and beneficiaries
Rolling Stone
By Nikki McCann Ramirez
March 3, 2025

The Trump administration has neutered a Treasury Department anti-money laundering rule requiring shell companies to disclose their owners and beneficiaries.

On Sunday, the Treasury announced that it would “not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either.” 

“Today’s action is part of President Trump’s bold agenda to unleash American prosperity by reining in burdensome regulations, in particular for small businesses that are the backbone of the American economy,” wrote Treasury Secretary Scott Bessent. 

The rule was enacted as part of the Corporate Transparency Act, a law passed in 2021, and required some businesses to report information on their beneficial owners — a fancy way of referring to the people who either directly or indirectly own or control a company — to the Treasury’s Financial Crimes Enforcement Network (FinCEN). 

President Donald Trump celebrated the Treasury’s announcement in a Sunday Truth Social post. “Exciting news! The Treasury Department has announced that they are suspending all enforcement of the outrageous and invasive Beneficial Ownership Information (BOI) reporting requirement for U.S. Citizens,” he wrote. “This Biden rule has been an absolute disaster for Small Businesses Nationwide. Furthermore, the Treasury is now finalizing an Emergency Regulation to formally suspend this rule for American businesses. The economic menace of BOI reporting will soon be no more.” 
Money launderers, spammers, con-artists, and oligarchs hiding their billions are applauding this! 



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