Reported by Elizabeth Howcroft

Excerpt shared below. To read full news story, go to: https://www.reuters.com/business/finance/financial-crime-watchdog-calls-countries-come-clean-shell-companies-2025-09-03/

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The head of the global financial crime watchdog has called on countries to come clean on the use of shell companies, calling them the “getaway car” for criminals, and said the problem would be a key part of a new round of national assessments.

The Financial Action Task Force’s focus on shell companies comes after both the United States under President Donald Trump and Switzerland have this year rowed back on transparency rules for beneficial owners.

Paris-based FATF, an intergovernmental anti-money laundering group, assesses countries in a six-year cycle on implementation of recommendations designed to reduce financial crime. Those include a requirement to keep a register of accurate and up-to-date information about the people behind companies and entities, also known as “beneficial ownership”.