Take Action Donate

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.

The Panama Papers — Two Years Later: Will the U.S. Finally Tackle Anonymous Shell Companies?

April 19, 2018
Anonymous shell companies make it extremely easy for corrupt and criminal actors both here and around the world, not to mention tax evaders, to hide and launder illicit wealth. From the Panama Papers to the Magnitsky scandal, the world is hearing more and more about this problem. As April marks the two-year anniversary of the release of the Panama Papers, it is important to reflect on what progress has been made to date in the United States to tackle anonymous ownership.

Read More

As Opioid Crisis Evolves, Anonymous Company Loopholes Remain a Gap

Our 2016 report, Anonymity Overdose, charted the connection between the opioid epidemic and the problem of anonymous shell companies.

As Congress ramps up funding for the national response to this crisis (though not at the levels some had hoped for), we wanted to provide an update on how the opioid trafficking operations are changing, and why ending anonymous shell companies is still an incredibly low-cost, bipartisan approach to help take on the opioid crisis.

Read More

Countering Russian Kleptocracy

Kleptocratic regimes use corruption as a means of control at home and a weapon of influence abroad. Russian oligarchs and other Kremlin agents have become adept at exploiting the global financial system to launder illicit funds and convert them into new forms of power projection, including attacks on Western democratic institutions. This report outlines a policy checklist that, if implemented, would amount to a comprehensive and effective strategy for countering Russian kleptocracy.

Read More

Small businesses need Congress’ help to crack down on fraud

Sometimes it feels like you have to be a superhero to build a successful small business. From performing multiple jobs to working long hours, it takes a lot of skill and strength to succeed.
One thing no small-business owner can do, however, is actually fight crime. As a result, Congress must protect small-business owners like me from fraud by requiring businesses to disclose the true identity of their owners.

Read More

Priced Out: How Anonymous Companies Contribute to the Rising Cost of Housing

Home ownership is a quintessential part of the American dream. Now, nearly a decade after the housing market crash this dream for many Americans is still just that: a dream. Housing costs are rising far faster than wages—burdening renters.   Residential properties are becoming prohibitively expensive—forcing out residents who may have called them home for decades.

To add insult to injury, the loss of affordable housing has been spurred by the use of anonymous shell companies. Bad actors or rich speculators use these companies to bid up prices on properties and then use them as a “bank” rather than a home—all without identifying who they are or where the money came from to purchase the property.

Read More