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THREAD via @NateSibley: "The anonymous ownership of shell companies might sound like a problem for accountants—but in fact it underpins and exacerbates many of the most serious threats to U.S. national security."
"Because the United States still allows individuals to own legal entities, transfer funds, and control assets with total secrecy, it has become an increasingly attractive jurisdiction for criminals with dirty cash to hide.
"The United States languishes at the bottom of global financial transparency ratings with the likes of Switzerland and the Cayman Islands."
"Perhaps the most alarming example of this was Iran’s use of anonymous companies to purchase an entire skyscraper on New York’s Fifth Avenue; it controlled the building without detection for 22 years."
