Pressure Continues to Rise on U.S. Government to Follow Suit
April 25, 2014
Clark Gascoigne, +1 202 293 0740 x222
WASHINGTON, DC – Global Financial Integrity (GFI) lauded UK Prime Minister David Cameron today for urging all British Overseas Territories and Crown Dependencies in a letter today to crack down on the abuse of anonymous shell companies by creating public registries of meaningful beneficial ownership information. The letter follows recent moves by the UK Government, which is currently in the process of creating the world’s first such public registry to do the same.
“Prime Minister Cameron continues to show strong leadership on this issue,” said GFI President Raymond Baker, a longtime authority on financial crime. “Anonymous shell companies are the number one tool for laundering the proceeds of crime, corruption, and tax evasion. Creating public registries of the true, human, ‘beneficial’ owners of each company—as the British government is in the process of doing—is a common sense approach to curbing financial crime and the tremendous flow of illegal money worldwide.”