Yellen Says 100,000 Firms Have Joined a Business Database Aimed at Unmasking Shell Company Owners

Treasury Secretary Janet Yellen asks a question during a visit to the Financial Crimes Enforcement Network (FinCEN) in Vienna, Va., on Jan. 8, 2024. Susan Walsh/AP Photo

WASHINGTON—Treasury Secretary Janet Yellen is announcing that 100,000 businesses have joined a new database that collects “beneficial ownership” information on firms as part of a new government effort to unmask shell company owners.

Yellen, in remarks prepared for delivery Monday, says the new Treasury database that is collecting beneficial ownership information sends the message that “the United States is not a haven for dirty money.”