New Overdose Data Sharpens Call for Closing Loopholes Used to Launder Opioid Profits

After new research by the New York Times found that overdose deaths are the leading cause of death of Americans under 50, it's a powerful reminder that the recommendations of our report, Anonymity Overdose, have not been addressed by Congress.

The scale of the opioid crisis is staggering, and deserves an all-hands-on-deck response from our leaders.
 
We know why cartels traffic these drugs. They do it for the money, and we at Fair Share believe it's time to go after the money more effectively.
 
There is a simple bipartisan solution we can enact right now which would help. We should get rid of anonymous shell companies — companies formed with no way of knowing who owns or controls them. These companies, which are not connected to the real owner -- and sometimes not even connected to a real person -- can open bank accounts, transfer money, and buy real estate.
 
Anonymous shell companies are a popular vehicle for all sort of crimes from laundering drug money to hiding income from taxes. Not even the FBI has access to who really owns these companies. Congress can remedy that by requiring the collection of beneficial ownership information for all companies formed in this country.
 
As we fight to save lives from opioids, we should leave no stone unturned — which should include the rocks under which drug cartels hide their money.

By Nathan Proctor, National Campaign Director