bne's tracking of a "meister creator" of shell companies suggests that recent moves by G8 countries to stop corporate anonymity will be insufficient, unless there are equivalent measures taken against the murky banks like those in Latvia and Cyprus whose clients require such vehicles.
US senators Carl Levin and Chuck Grassley introduced the “Incorporation Transparency and Law Enforcement Assistance Act” in the US Senate on August 3, which is intended to close down the US as a jurisdiction used by unscrupulous businessmen, often of Eastern European origin, to set up shell companies. "Our states don't require anyone to name the owners of the corporations being formed under their laws, practically inviting people to misuse our corporations," Levin said, introducing the bill.
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