Malinowski argued that the original system had a straightforward purpose: allow law enforcement to identify the real people behind otherwise anonymous companies used in financial crimes. 1/ https://t.co/k7zRPDlwoH — Tom Malinowski (@Malinowski) August 12, 2026He went further, accusing Treasury of making it easier for drug traffickers, Russian and Chinese kleptocrats, and other criminals to conceal money through US entities. The same law established strict limits on access, including use by federal agencies for national security, intelligence, and law enforcement purposes. “But the deletion of data currently available to law enforcement may be irreversible.” Treasury, meanwhile, says the rollback eliminates unnecessary costs for millions of businesses without compromising national security.