By Trevor Hunnicutt

WASHINGTON, (Reuters) – The Biden administration is trying to bring new light to transactions in which people buy houses with cash as part of a wide anti-corruption campaign being supported at the U.S. Summit for Democracy officials stated.

Joe Biden, the President of the United States ordered his officials to create policies that would stop illegal activity. The 38-page U.S. National Security Strategy on Countering Corruption, which was released Monday, outlines their initial plans.

U.S. Treasury Department stated that it was working to develop a new rule for identifying who’s behind any cash-real estate transaction and to check if these transactions are used to hide illegal profits.

Treasury stated that illicit actors have the ability to “threaten U.S. security” and “threatens the integrity of U.S. finances.”

They may ask that investment funds like hedge funds or private equity units engage in anti-money laundering activities. The agency expects to make public this week their new efforts to establish a database to identify the owners of shell corporations that anonymously transfer money.

After a string of leaks including the October Release of the Pandora (OTC) Papers Papers, questions were raised about government officials’ and others’ discreet moves of money overseas. This could be to avoid taxation or liability for wrongdoing.

Biden will host a virtual summit with 110 people on Thursday and Friday as part of his effort to combat what his administration considers authoritarian forces, led by China or Russia.