The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) has unveiled its plan to provide access to new data about shell company ownership to specific government agencies, law enforcement, and financial firms. This effort is aimed at addressing corruption and money laundering, with the implementation of the Corporate Transparency Act in 2021. The act mandates certain companies to report beneficial ownership data, and FinCEN will begin enforcing this requirement in 2024. The agency will initially introduce access to the data through a pilot program involving a small number of government agencies before expanding it to other federal, state, local, and tribal authorities. FinCEN will also have the ability to share data with foreign governments and financial firms for customer due diligence purposes.