Small Business

FACT Sheet: Small Businesses Are Harmed by Anonymous Companies

Anonymous companies have been used by rogue employees to embezzle money, fraudulent vendors to undermine supply chains, and bogus competitors to steal contracts.

With fewer resources than larger enterprises, small businesses are often easy targets for scammers and criminals.

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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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