Money laundering is a dangerous crime that makes dirty money look clean. It allows criminals to hide their illegal earnings and use them without getting caught. Unfortunately, the United States has become one of the top places where this happens. In fact, experts say America is a leading destination for criminals to hide and move their illicit funds. Despite the tough talk on crime, some of former President Donald Trump’s supporters are pushing for changes that could make the U.S. an even bigger target for money laundering.
The Rise of Anonymous Shell Companies
One major way criminals hide their money is through anonymous shell companies. These are businesses that don’t reveal the identities of their true owners, making it easy for criminals to hide behind them. In the past, anyone in the world could create these companies in the U.S., especially in states like Delaware, Nevada, and Wyoming. These states made it simple for people to keep their identities secret, turning the U.S. into a major hub for money laundering.
In 2021, the Corporate Transparency Act (CTA) was passed, aiming to stop this practice. The CTA requires companies to disclose who really owns them, making it harder for criminals to hide their money. Law enforcement and anti-corruption groups celebrated this change, as it closed a major loophole that had allowed dirty money to enter the U.S. economy.
However, some of Trump’s supporters are working to reverse the CTA. They argue that the law makes it harder for businesses to operate, but repealing it would make it easier for criminals to set up anonymous companies and move their dirty money without being detected. This would undo much of the progress made in the fight against money laundering in the U.S.
Loopholes in Real Estate and Investments
The U.S. real estate market has also been a key target for money laundering. For years, criminals have been able to buy property in the U.S. without revealing their true identities. Many of these deals are done in cash, which helps criminals avoid leaving a paper trail. In fact, a large portion of properties in Trump-branded buildings has been sold through all-cash transactions. Many of these purchases were made using anonymous shell companies, keeping the real buyers hidden.
Tigran Gambaryan Freed by Nigeria After Money Laundering Case Ends
But real estate isn’t the only way dirty money flows into the U.S. The private investment sector—such as hedge funds, private equity, and venture capital—has become another way for criminals to launder money. These industries operate with very little oversight, making them attractive for those who want to hide large amounts. Wealthy individuals from around the world, including corrupt officials and dictators, use these loopholes to stash their money in the U.S.
Now, Trump’s supporters are pushing to dismantle the regulations that protect these sectors from being used for money laundering. Some of them are even filing lawsuits against the rules designed to stop this, hoping the courts will strike them down. If these regulations are removed, it would make it even easier for criminals to hide their money in U.S. real estate and investments without being noticed.
Cryptocurrency and Crime
Cryptocurrency is another area of concern. Digital currencies like Bitcoin have become popular, but they’ve also become a tool for criminals. Terrorists, drug dealers, and human traffickers often use cryptocurrency because it’s hard to trace. They can move their money across borders without leaving a trail.
Some of Trump’s backers in the cryptocurrency industry want to remove regulations on digital currencies. They argue that people should be able to use cryptocurrency without the government watching their transactions. In fact, the 2024 Republican platform promises to end what they call a “crypto crackdown.” They also promise to allow Americans to use cryptocurrency without government interference.
This could make it even easier for criminals to use cryptocurrency for illegal activities. If the government has fewer tools to track cryptocurrency transactions, law enforcement will have a harder time catching criminals who use digital currencies for money laundering.
There are also plans from Trump’s supporters to weaken other financial protections. These include rules that prevent money from being used to fund terrorism or human trafficking. They also want to end laws that require companies involved in natural resources, like mining and oil, to reveal where their materials come from. This could allow corrupt governments and criminals to profit from illegal activities more easily.
