The Pennsylvania 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.
November 22, 2019
Senator Pat Toomey
320 Market Street, Suite 475E
Harrisburg, PA 17101
Dear Senator Toomey:
I am writing on behalf of the members of the Pennsylvania State Lodge, Fraternal Order of Police, 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. The collection of this data not only helps end these unlawful operations but deter the deliberate misuse of these companies.
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 Pennsylvania. Whether it’s in Erie or Bucks County, the men and women of law enforcement officers share a common goal-keeping Pennsylvanians 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 more than 40,000 members of the Pennsylvania State Lodge, Fraternal Order of Police, I want to thank you for the willingness to engage and work with the Fraternal Order of Police on this important legislation. We urge you to consider demonstrating your support by cosponsoring this bill and supporting its consideration by the committee. If I can provide any additional information on this matter, please do not hesitate to contact me.
Les Neri, President
PA State Lodge, FOP