Treasury promoting new rules to stop money laundering ahead of Europe meetings

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The Biden administration is stepping up efforts to stop dirty money from flowing through the U.S. financial system by crafting a slew of new rules aimed at increasing corporate transparency and regulating occupations that are exploited for money laundering. A top treasury official will be in Paris next week to lay out the U.S. efforts at meetings of an international task force that sets international standards on how to combat money laundering and illicit finance. The international community is expecting the U.S. to improve its corporate transparency rules in order to maintain its status as a safe haven for investment.