Global Witness Supports H.Amdt.1 to National Defense Authorization Act
H.Amdt.1 is “a critical step toward ending the abuse of anonymous shell companies,” Global Witness says in a letter to House leaders Rep. Pelosi and Rep. McCarthy.
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.
H.Amdt.1 is “a critical step toward ending the abuse of anonymous shell companies,” Global Witness says in a letter to House leaders Rep. Pelosi and Rep. McCarthy.
Ahead of a vote on the National Defense Authorization Act, Human Rights First expresses its support for H.Amdt.1 as a key reform to U.S. anti-money laundering legislation.
The Fraternal Order of Police backs inclusion of H.Amdt.1, the “Corporate Transparency and COUNTER Act,” in the National Defense Authorization Act.
In an endorsement letter to Representatives Pelosi and McCarthy, Global Financial Integrity (GFI) calls for actions to include H.Amdt.1 in the National Defense Authorization Act.
In a letter to House leadership, Transparency International says H.Amdt.1 (the Corporate Transparency Act) will help the U.S. to “rein in all of these abuses” committed by anonymous shell companies.
More than 100 experts from the national security and foreign policy community call on House leadership to take up beneficial ownership legislation.