"Yellen Reveals 100,000 Firms Join Effort to Expose Shell Company Owners"

Treasury Secretary Janet Yellen announced that 100,000 businesses have joined a new database collecting "beneficial ownership" information to unmask shell company owners, emphasizing the U.S.'s commitment to preventing illicit financial activities. The database, part of the government's effort to increase corporate transparency, was launched as a result of the bipartisan Corporate Transparency Act. Yellen also discussed upcoming real estate rules aimed at increasing transparency in property transactions. Despite legal challenges, Yellen emphasized the importance of corporate transparency in protecting national security and economic interests.