The U.S. Supreme Court on Thursday declined to block enforcement of an anti-money laundering law that forces millions of business entities to disclose the identities of their real beneficial owners to the Treasury Department,

The act aims to stop fraud and money laundering by requiring most U.S. businesses to disclose which owners control more than 25 percent of the stock or equity.

A Texas judge blocked the federal government from enforcing a duly enacted act of Congress at the behest of business interests fighting financial transparency efforts.