End Expensive and Dangerous Shell Companies
Most businesses have nothing to hide, but if you do have something to hide, it's easy: You just set up an anonymous shell company -- which in America, requires less personal information than it takes to get a library card.
Since you don't even have to report who owns the company, anonymous shell companies are a favorite tool to hide all sorts of unsavory behaviors, from terrorism and drug cartels to tax dodging.
But now we have a way to fight back. Take action to end anonymous shell companies.
This Sunday on 60 Minutes, shocking undercover footage showed how easy it is to use anonymous shell companies to hide shady deals.
On Wednesday, Congress responded, introducing a bill that would end expensive, dangerous shell companies.
We're working with a coalition of groups to call for action. If enough of us speak out, we can make sure everyone pays their fair share and plays by the same rules.
Your action can put a stop to practices like these:
- A Moldovan gang used anonymous companies from Kansas, Missouri and Ohio to trick victims from overseas in a $6 million human trafficking scheme;
- A Louisiana Congressman used anonymous companies from Delaware and Louisiana to take almost half a million dollars in bribes;
- The Iranian government used an anonymous New York company to conceal its ownership of a 5th Avenue skyscraper, in direct breach of sanctions;
- And a report found that 17% of all business donations to Super PAC gifts came from shell companies.
Even if one of these companies or individuals is found to be engaging in illegal activity, law enforcement has no way to charge them.
The rest of us aren't hiding our identities in a complex web of shell businesses to dodge taxes or make secret political contributions. Why is it too much to ask that everyone plays fair?
Call on your legislator to co-sponsor and support the bill that would end anonymous shell companies.