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Article

4 Jan 2021

Author:
FACT Coalition

Landmark bill ending anonymous U.S. companies is enacted

An historic anti-corruption measure ending anonymous companies in the United States became law... Ian Gary, executive director of the FACT Coalition [said]... Virtually every national security expert, law enforcement official, and human rights advocate that looked at the issue called for an end to anonymous companies.  It’s the single most important step we could take to better protect our financial system from abuse...

For more than a decade, the FACT Coalition and our members have worked tirelessly to assemble a powerful alliance of ideologically-diverse constituencies to back an end to anonymous companies.  Supporters of transparency eventually included hundreds of national security experts, police and prosecutors, banks and credit unions, CEOs, the real estate sector, large businesses, small business owners, faith groups, anti-human trafficking groups, human rights organizations, global development NGOs, anti-corruption advocates, labor unions, and conservative and liberal think tanks. The campaign was so successful that the State of Delaware and the U.S. Chamber of Commerce — both of which had previously opposed reform — ultimately endorsed transparency.