The 2016 "Panama Papers" leak exposed how the powerful and the corrupt use "anonymous shell companies" to finance crime and drain resources from developing countries.
Thanks to our work and the work of our partners at the FACT Coalition, we're in the best position we've ever been in to pass transparency legislation that addresses the use of shell companies. In June of 2018, Representatives Carolyn Maloney (D-NY) and Peter King (R-NY) heralded the House introduction of the Corporate Transparency Act. And just a month later, Senators Ron Wyden (D-OR) and Marco Rubio (R-FL) introduced a companion bill in the Senate. The bills aim to prevent shell companies from hiding corrupt and criminal activity. Shell companies are being used to finance human trafficking and to help drain billions from the developing world through corruption and tax evasion.
In 2019, we passed the bill through the House. You can read more about that vote here.
Want to get involved? Contact us at email@example.com and put "Shell Companies" in the subject line. You can also read more about shell companies here.