According to the new John Cassara book, the Chinese Communist Party (CCP) continues to expand its role in expanding illicit economies, criminalized markets, corrupt practices, and money laundering/TBML.

The staggering multi-trillion dollar global illicit economy is thriving from dirty money derived from an array of cross-border smuggling and trafficking crimes. Free trade zones, poorly regulated ports, ineffective enforcement of beneficial ownership laws and secretive financial hubs are threat multipliers that expand dark commerce, as criminals exploit cracks and seams in the global financial and trading systems to advance illicit trade and hide their profits. No one alone can fight illicit economies; public-private partnerships are critical.

The Corporate Transparency Act will modernize our nation's anti-money laundering rules, including through the important step of collecting beneficial ownership information at the time of company formation to help U.S. law enforcement communities fight corruption, organized crime, and terrorism.