Defense Bill Includes Two Landmark Transparency Provisions
As 2021 began, Congress passed two landmark laws that will help improve the transparency of federal contractors and combat the use of anonymous shell companies for money laundering.
How a Mini Movement Overturned Secret US Shell Companies
Swiss bankers, and many other tax haven operatives, have always complained that they are unfairly victimised by international anger over their financial secrecy practices. “What about Delaware,” they routinely asked, “how come they can get away with it?”
And, at least in this respect, they had a point, even though it was merely a cheap exercise in what-aboutism. But, as of January 1, no longer:
An Impressively Broad Coalition Just Did Something Big to Combat Money Laundering
Particularly in the wake of the tumultuous events of last week, it feels as though America’s divisions are so deep that our government cannot take meaningful action. However, there have been recent moments of successful bipartisan cooperation that deserve celebration.
Landmark Bill Ending Anonymous U.S. Companies Is Enacted
An historic anti-corruption measure ending anonymous companies in the United States became law on Friday, capping a more than decade-long campaign by transparency advocates.
House Votes to Override Veto of Bill Ending Anonymous U.S. Companies
An historic anti-corruption measure ending anonymous U.S. companies could be within days of enactment after House lawmakers voted to override a presidential veto.
NBC News: Congress passes a bipartisan bill that actually fights corruption. How did that happen?
With one small change in the law, the Corporate Transparency Act combats grand corruption, terror financing, human trafficking, weapons smuggling and fraud.