FACT Sheet: Business Case for Ending Anonymous Companies (May 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 as well as impunity.

The pervasive use of secret shell and front companies also impacts the broader economy.  As such, more and more businesses are speaking out.

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CEOs, Multinationals, and Small Businesses to Congress: End Anonymous Companies

Business Support Continues to Grow for Corporate Ownership Transparency
A group of CEOs from major companies, a trade association of major multinational enterprises, and a small business trade group each called on Congress over the past week to end the abuse of anonymous shell companies, adding to the momentum to enact corporate ownership transparency legislation.
A dozen current and former CEOs from major corporations (including Allianz, Chobani, Danone, Kering, and Unilever) sent a letter to Congress on Tuesday calling on lawmakers to end anonymous shell companies by enacting the bipartisan Corporate Transparency Act of 2019.

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