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Wyden Statement on Anti-money Laundering Provisions in National Defense Authorization Act

Statement

By: Ron Wyden
By: Ron Wyden
Date: Dec. 11, 2020
Issues: Finance and Banking Government Budget and Spending Criminal Justice

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released the following statement on the anti-money laundering provisions in the National Defense Authorization Act:

"After years of effort, Congress has taken strong action to crack down on money laundering. Bad actors have long used anonymous shell companies to finance terrorism, conceal criminal activity and steal from American taxpayers. By requiring companies to report their true owners to the Treasury Department, a key provision in my Corporate Transparency Act, law enforcement will finally have the tools to vigorously investigate various financial crimes like tax evasion. In my meeting with Secretary-Designate Yellen this week, I made clear that I am eager to work with her to implement the law as quickly and effectively as possible."


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