NAAUSA Endorses S. 569, Incorporation Transparency and Law Enforcement Assistance
by Bruce Moyer, NAAUSA Counsel and Washington Representative
June 18, 2009
Mindful of the ease with which criminals establish “front organizations” to assist in money laundering, terrorist financing, tax evasion and other misconduct, it is shocking and unacceptable that many state laws permit the creation of corporations without asking for the identity of the corporation’s beneficial owners. S. 596 will guard against that, and no longer permit criminals to exploit the lack of transparency in the registration of corporations. It also will create a critical information gathering tool by giving law enforcement authorities access to the true identity of the owners behind certain corporations suspected of criminal acts, without unduly intruding upon individual privacy.
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On November 17, Senators Leahy (D-VT) and Hatch (R-UT) and Representatives Delahunt (D-MA) and Gohmert (R-TX) introduced "The Enhanced Restitution Enforcement and Equitable Retirement Treatment Act of 2009," S. 2786 and H.R. 4091, respectively.
AUSAs must take action NOW to contact Congress and build support for legislation.
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