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.
A group of five leading international NGOs signed a letter endorsing the ILLICT CASH Act (S.2563) in a bid to end the abuse of anonymous companies in the American financial system.
The Pennsylvania State Troopers Association sent a letter to Senator Pat Toomey in support of the ILLICIT CASH Act (S 2563) and calling for the establishment of commonsense measures to protect the American financial sector.
Small Business Majority (SBM) sent a letter to the Senate Banking Committee voicing support for the ILLICIT CASH Act (S.2563).
The Consumer Banking Association sent a letter to the U.S. Senate’s Committee on Banking, urging members to end the incorporation of anonymous shell companies.
The North Carolina State Lodge of the Fraternal Order of Police (FOP) sent a letter to the Senate endorsing the bipartisan ILLICIT CASH Act (S.2563), which would end the incorporation of anonymous companies in the U.S.
The Alabama State Lodge of the Fraternal Order of Police (FOP) sent a letter to the Senate endorsing the bipartisan ILLICIT CASH Act (S.2563), which would end the incorporation of anonymous companies in the U.S.
