Ownership Transparency

The U.S. is the easiest place in the world for a criminal, terrorist, tax cheat, or kleptocrat to open an anonymous shell company to launder their money with impunity. Anonymous corporations are great ways to hide money and other assets — they can hold a bank account or buy a yacht. Criminals often layer anonymous corporations, with one owning another and so on, making it even harder for law enforcement to “trace the money” and figure out who is directing the company’s activity. It’s time to ending the use of anonymous shell companies as vehicles for illicit activity by requiring that the true owners of U.S. companies be disclosed at the time of formation and updated upon any change.

FDD Action Sends Support Letter for S.Amdt.2198

Following the inclusion of H.Amdt.1 in the House National Defense Authorization Act, FDD Action calls on the Senate to take up S.Amdt.2198. Like the House version, the Senate amendment would “help deter nefarious actors from exploiting holes in our beneficial ownership regime.”

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