The North Carolina State Lodge of the Fraternal Order of Police (FOP) 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 full letter can read below or downloaded here.
December 2, 2019
The Honorable Thom Tillis
United States Senate
185 Dirksen Senate Office Building
Washington, D.C. 20510·
Dear Senator Tillis:
I am writing on behalf of the 6,000 members of the North Carolina State Lodge of the Fraternal Order of Police and the 350,000 members of the National FOP to respectfully ask you to cosponsor S. 2563, the “Improving Laundering Laws and Increasing Comprehensive Information Tracking of Criminal Activity in Shell Holdings (ILLICIT CASH) Act,” which we hope will be considered before the Senate Committee on Banking, Housing, and Urban Affairs before the end of the year. This comprehensive legislation will provide for the collection of beneficial ownership information, allowing law enforcement to better combat money laundering by organized criminal enterprises.
The U.S. Treasury will collect information of the true beneficial owners of anonymous shell companies. The legislation reduces the burden on these beneficial owners by collecting only their name, address, date of birth, and individual ID number. Anonymous shell companies are often used to commit fraud and conceal criminal activity from law enforcement.
As you know our State is inundated with violent and organized criminals that are engaging in human trafficking as well as smuggling firearms and fentanyl into North Carolina. Whether it’s in Swain or Dare County, the men and women of law enforcement officers share a common goal-keeping our citizens safe. These anonymous shell corporations are used as a mask, concealing the identities of these criminals allowing them to launder the illicit profits from their activities. We need
the tools in the “ILLICIT CASH Act” to shut down these unlawful operations and get justice for the victims.
On behalf of the members of the North Carolina Fraternal Order of Police, I want to thank you for all your work in Washington DC to make our State a safer place for our residents and law enforcement officers. It is our hope you will see S. 2563 as a means for continuing that work and will demonstrate by signing on as a cosponsor and supporting its consideration by the committee. If I can provide any additional information please on this matter, please do not hesitate to contact me.
Randy Hagler, State President
North Carolina Fraternal Order of Police