News & Events

‘McMafia’ isn’t fiction — Corruption is a Global Problem

Corrupt deal-making at the highest level is happening right now, even in the U.S. In a year that has already seen ending anonymously-owned companies a top priority for some U.S. lawmakers, “McMafia” shines a light on these secretive companies and the uncomfortable truths that we at Global Witness have been campaigning on for many years.

Read More

Bipartisan Bill Targets Foreign Government Corruption

The Kleptocracy Asset Recovery Rewards Act Would Establish a Rewards Program for Whistleblowers
WASHINGTON, D.C. – A bipartisan group of lawmakers introduced legislation Tuesday afternoon to combat terror finance and foreign government corruption in a move that was welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.

Read More

New Bill Removes Tax Incentives to Move Jobs, Profits Offshore

“No Tax Breaks for Outsourcing Act” Would Close Loopholes in Tax Code that Encourage Offshore Tax Avoidance
WASHINGTON, D.C. – New legislation introduced Tuesday would equalize the tax rates for domestic businesses and multinational corporations — reducing the tax incentives to shift jobs and profits overseas that were enacted under the recent tax overhaul, according to the Financial Accountability and Corporate Transparency (FACT) Coalition.

Read More

Just the FACTs: February 23, 2018

Movements to end anonymous shell companies exploded in 2017, already this year the momentum has ballooned.  With several committees in the House and Senate taking up the issue and a broad-based, bipartisan coalition calling for action, the previously elusive transparency measure is no longer a long-shot.

Two recently released reports exemplify why the momentum needs to continue.  The 2018 Financial Secrecy Index provides insight into secrecy jurisdictions globally and the Polaris Project’s report, Human Trafficking in Illicit Massage Businesses, reveals (among other things) how the abhorrent industry of sex trafficking is shielded behind anonymously registered businesses.

Read More

Testimony to Senate Judiciary Committee on TITLE Act S. 1454

The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) testified in front of the Senate Judiciary Committee at a hearing on True Incorporation Transparency for Law Enforcement Act or TITLE Act, S. 1454 which would end the abuse of anonymous shell companies by simply requiring companies to list the beneficial owner at the time of corporate formation. The full testimony can be read below or downloaded here.

Read More

New Report: U.S. the 2nd Biggest Tax Haven in the World

America Surpasses Cayman Islands, Second Only to Switzerland in Tax Justice Network’s Rankings of the World’s Largest Secrecy Jurisdictions
WASHINGTON, D.C. – The United States has become the second largest tax haven in the world, according to a new report published Tuesday by the Tax Justice Network.

Read More