Incorporation Transparency

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

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.

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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.

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