Trump Just Made It Easier for Oligarchs & Traffickers to Hide Money in America

What you'll learn

• 1 (00:30) **Trump Administration Deletes Financial Crime Evidence** - The Treasury Department's FinCEN announces it will permanently remove the requirement to report beneficial ownership information and delete previously collected data.
• 2 (01:52) **Former Congressman Explains the Law's Purpose** - Tom Milanowski explains the 2020 law was designed to prevent drug traffickers, kleptocrats, and criminals from hiding money in the U.S. via anonymous shell companies.
• 3 (02:49) **The "Fingerprint Database" Analogy** - The host compares deleting the beneficial ownership database to deleting the FBI's fingerprint database.
• 4 (03:28) **This Action Is Totally Illegal** - Milanowski and the host state the Treasury Department's action is unlawful because Congress passed the law with strong bipartisan support.
• 5 (04:15) **Congressman Caston and Others React** - Congressman Sean Caston states the law was passed to prevent people from hiding their identities in LLCs to launder money.
• 6 (05:13) **Tom Milanowski: The U.S. as a Key Money Laundering Node** - Milanowski explains the U.S. became a key node in global money laundering because states like Delaware allowed anonymous company registration.
• 7 (08:22) **How the Law Worked in Practice** - The host asks how the law dealt with lawyers acting as straw men.

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