Corporate Transparency Act

The Corporate Transparency Act is a U.S. law aimed at preventing illegal activities like money laundering and fraud. It requires certain businesses to disclose information about their owners and control persons to the government. By doing so, authorities can better identify who is behind complex corporate structures and ensure transparency. The law applies mainly to small and newly formed companies and seeks to promote financial integrity by making hidden ownership harder to conceal. It also helps law enforcement track and combat illicit activities involving corporate entities.