Shruti Shah: The Panama Papers and the United States
Friday, April 15, 2016 at 9:28AM
Shruti Shah in Rep. Carolyn Maloney, Shell Corporations, Transparency International -USA, beneficial owners

Image courtest of TI-USAFollowing the release of the Panama Papers and the public outrage that followed, we at Transparency International-USA have set up a web page to explain anonymous companies and how they affect ordinary people in the United States.

Transparency International-USA is advocating for an end to secret companies because they allow corruption to flourish.

Please help by writing to members of Congress urging them to pass legislation to end anonymous U.S. companies.

Find your Senators here and your Representatives here.

You can also write to Congressman Jeb Hensarling (here), Chairman of the House Committee on Financial Services, and members of the Task Force to Investigate Terrorism Financing of the House Committee on Financial Services, to urge passage of bipartisan legislation recently reintroduced to address the problem of corporate anonymity.

One way to write is to copy and paste the message below and email it to your Senators and Representatives and other members of Congress:

We are outraged by the recent disclosures in the Panama Papers leak that expose how many rich, famous and politically connected people, from heads of state to crime bosses and business owners, hide their wealth behind the façade of secret companies.

This should be stopped. It is now time for Congress to act and pass bills (H.R. 4450 and S. 2489) introduced by Representative Carolyn Maloney (D-NY) and Senator Sheldon Whitehouse (D-RI) Both bills titled the Incorporation Transparency and Law Enforcement Assistance Act require the collection, maintenance and updating of beneficial ownership information on U.S. legal entities for law enforcement purposes.

Anonymous companies are used for dirty-money transactions and schemes that support drug traffickers and terrorists, defraud government agencies and cheat U.S. citizens, and undermine U.S institutions.

Congress should put a stop to them now.


Shruti Shah is a contributing editor of the FCPA Blog. She's Vice President of Programs and Operations at Transparency International-USA. She can be contacted here.

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