Incorporation Transparency

2018: The Year Anonymous Companies End

By Jacob Wills

2018 is shaping up to be the year that the abuse of Anonymous shell companies is finally put to an end in the United States.  Last week, the Senate Banking Committee held their second hearing of the month, and, just like the first hearing, the witnesses urged members to take action on anonymous companies.  One of the witnesses, Acting Deputy Assistant Attorney General M. Kendall Day, repeatedly called on lawmakers to tackle beneficial ownership requirements, adding that it would allow them to “bring more cases, more quickly, with more impact if we had a better system in place to make that information available to law enforcement.” Pressed by Sen. John Kennedy (R-LA) the second witness, Treasury Under Secretary for Terrorism and Financial Crimes Sigal Mandelker, responded that they were studying the issue carefully and hoped to have recommendations within 6-months.

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Faith Leaders Against Anonymous Shell Companies

As faith leaders in Utah, we are concerned with a gaping hole in state and federal law that is having dire consequences throughout the state, country and the world. We feel it is time as citizens to call on our representatives to correct this oversight and give law enforcement the tools they need to protect us and our financial system. It is time to end the legal twilight zone where anonymous shell companies are used to protect criminals.

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Corporate Anonymity is a Conduit for Crime

Few people would imagine Delaware or Wyoming as potentially key players in the world of international crime and terror. But as a result of some of the most permissive corporate legal codes in the world, that appears to be a strong possibility.

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Illicit massage parlors prolific and lucrative, study finds

Houston hosts hundreds of massage parlors described in sleazy online sex forums like RubMaps.com that generate about $107 million in illicit revenues each year, according to a new study by Vanessa Bouche, a Texas Christian University political science professor and human trafficking expert.

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