Narcotics Officers Endorse Senate Bill to End Anonymous Companies

The National Narcotic Officers’ Associations’ Coalition (NNOAC) 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 NNOAC is comprised of 40 individual state narcotic associations representing more than 60,000 law enforcement officers from across the nation.  NNOAC adds its name to the growing list of police and prosecutors that support legislation to combat the abuse of anonymous shell companies. The full letter can read below or downloaded here.

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Download Letter as PDF

November 15, 2019

The Honorable Mark Warner
United States Senate
Washington, D.C. 20515

The Honorable Tom Cotton
United States Senate
Washington, D.C. 20515

The Honorable Doug Jones
United States Senate
Washington, D.C. 20515

The Honorable Mike Rounds
United States Senate
Washington, D.C. 20515

The Honorable Robert Menendez
United States Senate
Washington, D.C. 20515

The Honorable John Kennedy
United States Senate
Washington, D.C. 20515

The Honorable Catherine Cortez Masto
United States Senate
Washington, D.C. 20515

The Honorable Jerry Moran
United States Senate
Washington, D.C. 20515

 

RE: S. 2563, ILLICIT CASH Act

Dear Senators Warner, Cotton, Jones, Rounds, Menendez, Kennedy, Masto, and Moran,

I am writing on behalf of the 40 state associations and more than 60,000 law enforcement officers represented by the National Narcotic Officers’ Associations’ Coalition in support of the Improving Laundering Laws and Increasing Comprehensive Information Tracking of Criminal Activity in Shell Holdings (ILLICIT CASH) Act.  We believe this legislation would help law enforcement by reducing the ability of criminals to hide their tracks via “shell corporations.”

“Following the money” is a proven strategy in investigations that involve organized criminal activity including drug trafficking.  Sometimes in narcotics investigations the money trail goes cold because shell corporations, which have no personally identifying information listed in filings, anonymously shield the wrongdoer.

Your legislation would address this problem by requiring the names of beneficial owners of corporations to be listed in filings.  This would remove anonymity and enable investigations into organized criminal activity including drug trafficking to proceed. In a time of greatly diminished law enforcement resources, requirements under the ILLICIT CASH Act would enable us to be more effective in protecting the public and enforcing the law.

Please consider us as a resource at your disposal as you move forward with this legislation and other policy initiatives. Thank you for your consideration.

Sincerely,

Bob Bushman President National Narcotic Officers’ Associations’ Coalition
Cc: Members of the United States Senate