Making Corporate Transparency a Global Norm

The abuse of anonymous companies is not isolated or new. Drug cartels, human trafficking operations, rogue nations dodging economic sanctions, terrorist networks, purveyors of counterfeit and pirated goods, officials engaged in grand corruption and everyday fraudsters all use anonymous companies to launder money with impunity. In a guest article, Gary Kalman, executive director of the FACT Coalition, discusses how anonymous companies have become the getaway cars for criminals to launder their illicit funds and why it is time to take away the keys by passing legislation requiring beneficial ownership information for companies formed in the United States. See “How to Leverage AML Tools for ABC Programs” (May 1, 2019).

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