FACT Sheets | Page 5 | The FACT Coalition

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

February 22, 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.

How Rogue Nations & Sanctioned Groups Use Shell Companies

February 14, 2019

Testimony, reports, and independent assessments all find that anonymous companies are a threat to global peace and security and undermine our ability to keep dangerous actors from accessing our financial system.

How the Tax Code Favors Large Multinational Businesses Over Small and Domestic Ones

January 28, 2019

We need a tax code that creates an even playing field between large multinational corporations and small and domestic businesses, which means ending the ability of the former to engage in offshore shell games.

Experts Agree: The Tax Cuts and Jobs Act Encourages Companies to Shift Activity Offshore

December 18, 2018

Quotes from prominent economic experts explaining the incentive for companies to shift activity offshore in the Tax Cuts and Jobs Act.

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

December 3, 2018

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

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

August 28, 2018

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.