Dear Colleagues,

10 major human rights organizations sent a letter to the Senate Banking Committee today endorsing the bipartisan ILLICIT CASH Act (S.2563). The measure would end the incorporation of anonymous companies, which are often used to facilitate corruption, tax evasion, money laundering, and terror financing. Just last month, the House of Representatives passed similar legislation [ [link removed] ], which received support from the White House [ [link removed] ].

The organizations on the letter include:
* Amnesty International USA
* EarthRights International
* EG Justice
* Enough Project/The Sentry
* Freedom House
* Global Witness
* Human Rights First
* Human Rights Watch
* International Corporate Accountability Roundtable
* International Labor Rights Forum


See the press release from Human Rights Watch below. The full letter can be found here [ [link removed] ].

Best,

Clark Gascoigne
Deputy Director
The FACT Coalition _________________________________________



[link removed] [ [link removed] ]
US: Approve Bill to Curb Money Laundering

Requires Companies to Disclose True Ownership


(Washington, DC) – The United States Senate should pass a proposed law that would provide law enforcement a crucial tool for stemming corruption and advancing human rights, 10 human rights organizations said in a letter [ [link removed] ] to senators today.

Four Democrats and four Republicans are cosponsoring the ILLICIT CASH Act [ [link removed] ], which would require American companies to disclose information about the people who own or control them. The bill would make it harder for corrupt foreign officials to register businesses anonymously, to hide ill-gotten gains, and to escape legal accountability. A companion bill, the Corporate Transparency Act of 2019 [ [link removed] ], passed the House of Representatives on October 22 with bipartisan support.

"In October, the House of Representatives took a bipartisan stand to drive money launderers out of the shadows," said Sarah Saadoun [ [link removed] ], business researcher at Human Rights Watch. "The US Senate should join them in barring anonymous businesses and remove a stain on the United States' proud record of fighting corruption."

The organizations are Amnesty International USA, Freedom House, Global Witness, Human Rights First, Human Rights Watch, International Corporate Accountability Roundtable, International Labor Rights Forum, EarthRights International, EG Justice, and Enough Project/The Sentry.

Corruption poses a serious challenge to human rights in many countries. The loss of resources undermines a government's ability to invest in health, education, housing, and other basic rights. Corrupt officials frequently target transparency advocates, journalists, and others who they fear will expose their crimes and they abuse the criminal justice system to punish their critics and protect themselves from prosecution.

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About the FACT Coalition

The Financial Accountability and Corporate Transparency (FACT) Coalition is a non-partisan alliance of more than 100 state, national, and international organizations working toward a fair and honest tax system that addresses the challenges of a global economy and promoting policies to combat the harmful impacts of corrupt financial practices.

For more information, visit www.thefactcoalition.org


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