FATF’s President Elisa de Anda puts Shell Companies on notice: reform or face FATF scrutiny

FATF has urged governments to strengthen transparency around shell companies, warning that continued opacity may lead to international censure. FATF President Elisa de Anda Madrazo described anonymous legal entities as the “getaway car” for money laundering and sanctions evasion, highlighting their role in concealing illicit financial flows. Her remarks coincide with the launch of FATF’s latest round of mutual evaluations, which will place greater scrutiny on national systems for identifying and verifying beneficial ownership…