Eric LeCompte, Executive Director of Jubilee USA Network, sent a letter on behalf of Jubilee and their partner organizations to members of Senate leadership urging Congress to include the Anti-Money Laundering Act of 2020 as an amendment to the National Defense Authorization Act (S. Amendment 2198 to S. 4049). The bill will modernize AML regulations in the US and develop a beneficial ownership reporting database. The full letter can be read below or downloaded here.
June 29, 2020
The Honorable Mitch McConnell Majority Leader, U.S. Senate 317 Russell Senate Office Building Washington, DC 20510
The Honorable Chuck Schumer Minority Leader, U.S. Senate
322 Russell Senate Office Building
Washington, DC 20510
The Honorable James Inhofe Chairman, U.S. Senate Armed Services Committee 205 Russell Senate Office Building Washington, DC 20510
The Honorable Jack Reed
Ranking Member, U.S. Senate Armed Services Committee
728 Hart Senate Office Building
Washington, DC 20510
Leader McConnell, Leader Schumer, Chair Inhofe and Ranking Member Reed,
On behalf of 750 national religious bodies and institutions, faith communities and Jubilee USA member organizations, I urge you to ensure that the Anti-Money Laundering Act of 2020 becomes an amendment to the National Defense Authorization Act (S Amendment 2198 to S4049).
The Senate should ensure quick passage of this and similar pieces of legislation that reveal the true owner of “anonymous” shell companies to government authorities. Some shell companies hide those who profit from human trafficking and dictators use them to steal development aid and debt relief. Without basic transparency measures, shell companies can foster Medicare and Medicaid fraud, harm our national security and contribute to a loss of nearly a trillion dollars a year to the developing world.
My organization, Jubilee USA Network, coordinated 100 faith communities and organizations to urge Congress to pass strong transparency measures that reveal the true ownership of these anonymous companies. In the attached anti-money
laundering support letter, please see a listing of these groups that include some of the largest religious institutions and groups in the United States, including: Christian Church (Disciples of Christ), The Episcopal Church, The Evangelical
Lutheran Church in America, The National Council of Churches, The Presbyterian Church (USA), The United Church of Christ, The United Methodist Church – General Board of Church and Society, Catholic religious orders and Jewish, Christian and Muslim communities.
As you know, this amendment is sponsored by Senators Mike Crapo (R-ID), Sherrod Brown (D-OH), Tom Cotton (R-AR), Mark Warner (D-VA), Mike Rounds (R-SD), Doug Jones (D-AL), Jerry Moran (R-KS), Bob Menendez (D-NJ) and John Kennedy (R-LA).
While we believe the adoption of this measure is a positive step forward to protect the vulnerable and improve transparency, we look forward to continuing to work with you to further strengthen this and related transparency initiatives.
I am grateful for your public service. Please know that I and our member institutions continue to hold you in prayer as you make critical decisions for our country and on behalf of those who are most vulnerable.
CC: US Senate Members
Enc: Attached Letter