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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.

Op-ed: Follow the money of opioid trafficking

The president will now declare what many of us experience first hand: The opioid epidemic is a national emergency.

Frankly, with as many as 59,000 deaths in 2016, there doesn’t seem to be any other possible description.

So many dedicated people in cities and towns, faith communities and schools, families and hospitals are fighting to save lives and help people escape addiction.

But there are also a lot of people working to keep illegal opioids on the streets.

With 2.6 million opioid addicts in the United States, the scale of drug-running operations is immense, as are the profits. It’s not a mystery why the cartels build these operations; they do it for the money, and there is a lot of money to be had.

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Strip the World’s Worst Actors of a Key Financial Tool

Anonymous shell companies are the vehicle of choice for a wide variety of bad actors. Drug cartels and human trafficking operations have long understood the benefits of corporate secrecy to launder money. Terror groups have learned these lessons, and today illicit financing and evading sanctions are as much a part of their strategy as any bombing or attack. Corrupt leaders in nations around the world steal public funds to prop up their regimes, undermine democratic institutions and ideals, and create internal and regional instability.

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New UK Law May Shut Down the Biggest Tax Havens — Aside from the U.S.

The United Kingdom’s parliament has enacted a new law requiring its overseas territories — which include notorious tax havens like Bermuda, the Cayman Islands, and the British Virgin Islands — to start disclosing by 2020 the owners of corporations they register.

This could shut down a huge amount of offshore tax evasion and other financial crimes because individuals from anywhere in the world, including the United States. have long been able to set up secret corporations in these tax havens to stash their money.

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