Oregon Business Report: Taxing corporate profits on per-country basis
Rep. Peter DeFazio introduced legislation to discourage multinational corporations from moving abroad by taxing corporate profits on a per-country basis
Letter From International NGOs to Congress on Draft of a Counter Terrorism and Illicit Finance Bill
International NGOs sent a letter to the House Financial Services Committee on the Discussion Draft of the Counter Terrorism and Illicit Finance Act. The full letter can be downloaded here.
Scholars Call for an End to Anonymous Companies: National Security Threats are Profound
Quotes from prominent national security experts explaining the problems with anonymous shell companies.
Testimony of Dalia F. Martinez, Executive Vice President of Operations International Bank of Commerce before the Subcommittee on Financial Institutions and Consumer Credit, April 27, 2018
Chairmen Leutkemeyer and Pearce, Ranking Members Clay and Perimutter and members of the subcommittee, I am honored to have this opportunity to present testimony today regarding FinCEN’s Customer Due Diligence Rule. I am Dalia F. Martinez, Executive Vice President and Corporate Bank Secrecy Act Officer for International Bank of Commerce. IBC Bank–Laredo is a member of International Bancshares Corporation (NASDAQ: IBOC), a $12.2 billion multi-bank financial holding company headquartered in Laredo, Texas, with 192 branches and more than 294 ATMs serving 90 communities in Texas and Oklahoma. I am speaking to you today representing the Mid-size Bank Coalition of America, the voice of 88 community banks with headquarters in 34 States. MBCA banks are primarily between $10 billion and $50 billion in assets with more than 10,000 branches in all 50 states, with deposits of $1.2 trillion. MBCA banks represent, service, and support millions of customers.
The Panama Papers — Two Years Later: Will the U.S. Finally Tackle Anonymous Shell Companies?
April 19, 2018
Anonymous shell companies make it extremely easy for corrupt and criminal actors both here and around the world, not to mention tax evaders, to hide and launder illicit wealth. From the Panama Papers to the Magnitsky scandal, the world is hearing more and more about this problem. As April marks the two-year anniversary of the release of the Panama Papers, it is important to reflect on what progress has been made to date in the United States to tackle anonymous ownership.
FACT Joined a Coalition of Nearly 30 NGOs in Letter Supporting Administration’s Actions Under the Global Magnitsky Act
The FACT Coalition joined 28 other organizations on March 5, 2018 in sending a letter supporting the administration’s December designations under the Global Magnitsky Act, an important measure to fight corruption and human rights abuses. The letter also expresses disappointment that designations weren’t made in key regions and countries. The full letter can be read below or downloaded here.