The Anti-Money Laundering Act would end the abuse of anonymous companies and has the support of the business community, national security experts, and law enforcement.
Several members of the U.S. administration have made statements in support of beneficial ownership disclosure.
Transparency International has issued on a factsheet on the importance of anti-corruption measures, including beneficial ownership disclosure, in formulating a response to the COVID-19 pandemic.
The pervasive use of secret shell and front companies harms the broader economy, and more and more businesses are speaking out.
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.
Anonymous companies provide human traffickers the secrecy they crave. Opaque ownership structures make it difficult to track the individuals involved, while providing plausible deniability for those who profit from human trafficking operations.
