Press Releases & Statements | Page 23

Senators Introduce Bipartisan Bill as Leak of Odebrecht’s “Bribery Division” Underscores Need to End Anonymous Companies

June 26, 2019

Wyden, Rubio, and Whitehouse’s “Corporate Transparency Act” — Companion to Maloney and King’s H.R.2513 — Would End Incorporation of Anonymous Companies in the U.S.
WASHINGTON, D.C. — Bipartisan momentum to end the incorporation of anonymous companies in the United States escalated on Wednesday following the publication of an international exposé on the scandal-plagued Odebrecht’s “Bribery Division,” as Senators Ron Wyden (D-OR), Marco Rubio (R-FL), and Sheldon Whitehouse (D-RI) introduced legislation that would require companies to disclose their true owner(s) when they incorporate and keep their ownership information up to-do-date.

House Committee Advances Bipartisan Bill to End Abuse of Anonymous Companies

June 13, 2019

Corporate Transparency Act of 2019 Moves Forward with Strong Bipartisan Support
WASHINGTON, D.C. — The House Committee on Financial Services voted 43-16 on Wednesday to advance a bipartisan measure to end the incorporation of anonymous companies that can be used for money laundering, terror financing, corruption and tax evasion.

Bipartisan Group of Senators Unveil Draft Anti-Money Laundering, Ownership Transparency Bill

June 10, 2019

House Committee to Vote on Corporate Transparency Act Tuesday
WASHINGTON, D.C. — A bipartisan group of four U.S. senators unveiled draft legislation to update federal anti-money laundering laws and end the incorporation of anonymous companies in the U.S. on Monday, as House lawmakers prepare to vote on their own bipartisan proposal to address the abuse of anonymous companies on Tuesday.

Senators Introduce Bills to Plug Offshore Tax Loopholes, Reduce Outsourcing Incentives, and Boost Transparency

May 22, 2019

WASHINGTON, D.C. — Senate lawmakers introduced two pieces of legislation on Wednesday that would boost transparency of multinational corporations’ tax and employment practices while making it harder for companies to game the international tax system.

New Study: Anonymous Companies Fuel Illicit Trade in Counterfeit and Pirated Goods

May 6, 2019

Opaque Ownership Structures Obstruct Enforcement of a Growing Global Illegal Economy Valued at $500 Billion to $3 Trillion
WASHINGTON, D.C. – The formation and use of anonymous companies undermine the economic and financial interests of U.S. companies and markets according to a new report published Monday by the Financial Accountability and Corporate Transparency (FACT) Coalition. The author, former Chair of the OECD Task Force on Countering Illicit Trade David M. Luna, found that criminals and counterfeiters are expanding their market share with fake products in storefront and on-line markets, contributing to a growing global illegal economy valued at between $500 billion and $3 trillion. Criminally-derived profits (or dirty money) related to corruption and money laundering constitute several trillion dollars more that further finances insecurity and instability around the world.

Bipartisan Bill Introduced to End Anonymous Companies

May 3, 2019

Corporate Transparency Act of 2019 a Critical Measure to Combat Corruption, Sanctions Evasion, Money Laundering, and Human Trafficking
WASHINGTON, D.C. — A bipartisan group of lawmakers introduced legislation on Friday addressing the largest vulnerability in the nation’s anti-money laundering framework, according to the Financial Accountability and Corporate Transparency (FACT) Coalition, a non-partisan alliance of more than 100 state, national, and international organizations promoting policies to combat the harmful impacts of corrupt financial practices.