U.S. tightens checks on anonymous companies following Panama Papers release

May 6, 2016 1:03 AM

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U.S. tightens checks on anonymous companies following Panama Papers release

The Obama administration announced several rules Thursday evening meant to combat tax evasion, money laundering and financial crime amid renewed scrutiny over the use of offshore accounts and anonymous companies to conceal money.

The rules, which include requiring financial institutions to find out and keep records on the real owners behind the companies that use their services, aim to help U.S. law enforcement pierce the layers of anonymous shell companies that people can use to disguise their financial dealings around the ...

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