Resources | Page 38 | The FACT Coalition

Anonymous Companies Help Finance Illicit Commerce and Harm American Businesses and Citizens

May 6, 2019

Titled “Anonymous Companies Help Finance Illicit Commerce and Harm American Businesses and Citizens: A Need for Incorporation Transparency,” this May 2019 report from the Financial Accountability and Corporate Transparency Coalition (FACT Coalition) explains that the trafficking and smuggling of counterfeit and pirated goods is a very profitable illegal activity for many of today’s criminals and illicit networks and that these networks rely on the secrecy provided by anonymous entities to launder their ill-gotten-gains and escape detection.

Letter from Anti-Human Trafficking Group, Polaris, to House Supporting Corporate Transparency Act of 2019 (H.R. 2513)

May 2, 2019

Anti-human trafficking organization, Polaris sent a letter to the U.S. House of Representatives’ Committee on Financial Services, urging members to end the incorporation of anonymous shell companies.

The full letter can be read below or downloaded here.

CEOs from a Dozen Companies Sent a Letter to Congress in Support of the Corporate Transparency Act

April 30, 2019

The CEOs from a dozen companies sent a letter to Congress in support of the Corporate Transparency Act. The full letter can be read below or downloaded here.

Letter from DE Secretary of State to House Supporting Corporate Transparency Act of 2019 (H.R. 2513)

April 30, 2019

Delaware Secretary of State Jeffrey Bullock sent a letter to the U.S. House of Representatives’ Committee on Financial Services, urging members to end the incorporation of anonymous shell companies.

The full letter can be read below or downloaded here.

Small Business Majority Sent a Letter to Congress in Support of the Corporate Transparency Act

April 25, 2019

Small Business Majority sent a letter to Congress in support of the Corporate Transparency Act. The full letter can be read below or downloaded here.

Trending Toward Transparency

April 23, 2019

There is a growing chorus of individuals and organizations speaking out on the value of tax transparency and, in particular, the public country-by-country reporting (CBCR) of certain financial information for multinational companies, according to this April 2019 report published by the Financial Accountability and Corporate Transparency Coalition (FACT Coalition).

Titled “Trending Toward Transparency: The Rise of Public Country-by-Country Reporting,” the report highlights the growing support among various sectors of the investing, business, and policymaking communities as well as several enacted and proposed rules around the world to mandate increased disclosures.