From Brad Brooks-Rubin, The Sentry <[email protected]>
Subject 23 organizations applaud FinCEN on proposed beneficial ownership rule
Date February 4, 2022 6:37 PM
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Dear Supporter,

Today, The Sentry led an effort with a coalition of 22 other international human rights and transparency organizations in submitting a letter [ [link removed] ] applauding a newly proposed rule by the Treasury Department's Financial Crimes Enforcement Network (FinCEN). The rule would implement the beneficial ownership registration elements of the Corporate Transparency Act. Although beneficial ownership registries may sound like mundane technical instruments, when implemented properly they are an essential component of the integrated fight against corruption and human rights abuse. A robust rule from FinCEN would go a long way towards eliminating anonymous shell companies in the United States–a favorite tool of kleptocrats and human rights abusers. [ [link removed] ]



Representing a wide range of work on human rights and transparency issues around the world, from sub-Saharan Africa to China to Myanmar, the signatory organizations put a spotlight on the importance of strong beneficial ownership registration requirements in supporting accountability for human rights violators. We also call on FinCEN to establish strong measures in the rule to eliminate loopholes and to avoid any backtracking or weakening of the proposal that would allow human rights violators to have more opportunity to hide their financial interests.

Along with The Sentry, signatories are:

ADISI-Cameroun
Campaign for a New Myanmar
Clooney Foundation for Justice
Collectif SASSOUFIT
Democracy for the Arab World Now (DAWN)
EarthRights International
EG Justice
Friends of Angola
Human Rights First
Human Rights Watch
Humanity United
International Campaign for the Rohingya
International Corporate Accountability Roundtable (ICAR)
Jewish World Watch
Never Again Coalition
No Business With Genocide
the Opening Central Africa Coalition
Oxfam America
Public Interest Law Center (Chad)
Transparency & Accountability Initiative
Uyghur American Association
Uyghur Human Rights Project

We look forward to the rule's final adoption and robust implementation as a means of supporting respect for human rights. Our full letter can be found *here* [ [link removed] ].





Sincerely,

Brad Brooks-Rubin
Senior Advisor







[ [link removed] ]



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