FACT Sheet: Business Case for Ending Anonymous Companies (February 2020)
The pervasive use of secret shell and front companies harms the broader economy, and more and more businesses are speaking out.
FACT Sheet: Anonymous Companies and National Security (January 2020)
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.
FACT Sheet: Anonymous Companies and Human Trafficking
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.
FACT Sheet: Small Businesses Are Harmed by Anonymous Companies
Anonymous companies have been used by rogue employees to embezzle money, fraudulent vendors to undermine supply chains, and bogus competitors to steal contracts.
With fewer resources than larger enterprises, small businesses are often easy targets for scammers and criminals.
FACT Sheet: A Brief Summary of the Corporate Transparency Act of 2019 (H.R. 2513)
The Corporate Transparency Act of 2019 takes the simple, yet effective, step to require corporations and limited liability companies (LLCs) to disclose to law enforcement and others with legally mandated anti-money laundering responsibilities (e.g. financial institutions) information on who is the real, natural person (a.k.a. beneficial owner) who owns and controls an entity at the point of formation.
Additional provisions include a) outlawing the formation of bearer share corporations and LLCs, and b) requiring that bids for large federal contracts include the beneficial ownership data of the prospective contractors and subcontractors.
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.