New Fair Share Study Highlights 10 Cases that Connect Opioid Trafficking and Related Money Laundering to Anonymous Companies
WASHINGTON, D.C. – As opioid overdose deaths skyrocket, a new report released today by Fair Share Education Fund—a member of the FACT Coalition—highlights the role of anonymous shell companies in facilitating the money laundering, which drives the drug traffickers behind the crisis. Titled “Anonymity Overdose,” the report highlights 10 cases that connect opioid trafficking and related money laundering to anonymous shell companies.
Gary Kalman, the executive director of the FACT Coalition, issued the following statement:
“Opioid-related deaths have quadrupled over the past 15 years—ravaging our families and communities—but we are failing to tackle the money behind the crisis. The Office of National Drug Control Policy estimates that less than 2% of illegal drug proceeds are seized by federal law enforcement each year. This is in large part because anonymous shell companies make it easy for criminals to launder their money with impunity.
“Drug traffickers regularly set up anonymous shell companies. In fact, the U.S. is one of the easiest places in the world to do so. Congress should immediately pass bipartisan legislation to end the secrecy and give cops and prosecutors the tools they need to go after drug cartels and others who threaten the safety and security of our communities.”
The full report can be found here.
Notes to Editors:
- Click here to read an HTML version of this release.
- Click here to read the full report.
- The bipartisan legislation is the Incorporation Transparency and Law Enforcement Assistance Act (S. 2489, H.R. 4450).
+1 202 813 0290