FACT Sheets

FACT Sheet: Anonymous Companies and National Security (May 2019)

Anonymous companies facilitate everything from corruption and money laundering to transnational organized crime, sanctions evasion, and terrorism — all of which directly harm U.S. foreign policy interests. Such companies have been used to divert from their intended purposes U.S. security and overseas development funds into the hands of those who seek to do the United States harm, and they can help fund the very insurgents and terrorists U.S. troops are fighting.

Read More...

Beyond Anecdotes: Data Demonstrate Anonymous Companies Are Dangerous and Prevalent

Numerous stories have been written exposing how anonymous companies are used around the world for criminal purposes, including in media reports stemming from the Panama Papers, Paradise Papers, and Lux Leaks; the Russian and Troika Laundromat episodes; Global Witness reports, The Great Rip Off and Hidden Menace; and many more.

In addition to the examples, there is mounting evidence showing the widespread use of anonymous companies to launder money and allow dangerous actors to escape accountability and that the United States is a prime secrecy jurisdiction.

Read More...

FACT Sheet: Business Case for Ending Anonymous Companies (May 2019)

Anonymous companies are behind just about every financial crime.  They are the vehicle of choice for laundering money obtained through illicit activity. Schemes involving terror financing and the trafficking of drugs, illegal weapons, and humans all use anonymous companies to move money, fund operations, and allow bad actors to escape with the proceeds of their crimes as well as impunity.

The pervasive use of secret shell and front companies also impacts the broader economy.  As such, more and more businesses are speaking out.

Read More...

FACT Sheet: Business Case for Ending Anonymous Companies (February 2019)

Anonymous companies are behind just about every financial crime.  They are the vehicle of choice for laundering money obtained through illicit activity.  Schemes involving terror financing and the trafficking of drugs, illegal weapons, and humans all use anonymous companies to move money, fund operations, and allow bad actors to escape with the proceeds of their crimes and impunity.

The pervasive use of secret shell and front companies also impacts the broader economy.  As such, more and more businesses are speaking out.

Read More...

FACT Sheet: Business Case for Ending Anonymous Companies (December 2018)

Anonymous companies are behind just about every financial crime.  They are the vehicle of choice for laundering money obtained through illicit activity.  Schemes involving terror financing and the trafficking of drugs, illegal weapons, and humans all use anonymous companies to move money, fund operations, and allow bad actors to escape with the proceeds of their crimes and impunity.

The pervasive use of secret shell companies has also begun to impact the broader economy.  As such, more and more businesses are speaking out.

Read More...

FACT Sheet: Treasury’s CDD Rule: One Piece to a Larger Puzzle

Drug traffickers, corrupt officials, rogue nations seeking to evade sanctions, terrorists, and other criminals use anonymous companies to hide the money they steal and maintain the power they hold.

Many of the most dangerous criminal elements now operate sophisticated financial networks.  They have updated the way they do “business,” which Includes the use of companies with hidden owners.   As the rest of the world cracks down on corporate secrecy, the criminals and other wrongdoers are looking increasingly to the U.S.

The U.S. Treasury Department’s Customer Due Diligence (CDD) Rule for Financial Institutions1 is a critical piece in a larger strategy to protect the integrity of our financial system from abuse and the nation from a broad array of harms.

Read More...