Bangladesh, March 23 -- In a move that has drawn widespread criticism from transparency advocates and financial watchdogs, the US Treasury Department has announced that it will not enforce a crucial provision of the Corporate Transparency Act (CTA). This provision, which requires both domestic and foreign companies to disclose their true owners, was designed to curb money laundering, tax evasion, and illicit financial activities. The decision to drop enforcement has alarmed critics, who argue that it will weaken national security and create new avenues for financial crime.

The Corporate Transparency Act was enacted in 2021 under the first Trump administration as part of a broader initiative to enhance financial transparency and prevent b...