No free passes for fraudsters, cartels, and human traffickers
No free passes for fraudsters, cartels, and human traffickers
- Mon, Apr 20 2026 at 11:33 AM
Tomorrow, your representative will be considering a bill in the House Financial Services Committee (H.R. 425) that would repeal the Corporate Transparency Act.
The Corporate Transparency Act shouldn’t be controversial.
It’s a bipartisan law that was passed during the previous Trump Administration over his veto and prevents shell companies from remaining anonymous.
Anonymous shell companies are very dangerous:
Foreign actors use anonymous shell companies to launder money and support terrorist organizations
Human traffickers and scammers use anonymous shell companies to hide their operations and receive money
Fraudsters create anonymous shell companies using aliases to mimic real businesses, steal contracts, and cash stolen checks
Thanks to the Corporate Transparency Act, certain companies have to reveal basic information about their true owners and criminals of all stripes can’t hide behind anonymous companies.
While the Trump Administration has defanged the law by exempting domestic companies from reporting, it’s critically important that the law is not repealed.
We must ensure your representative does not try to strip away this important anti-money laundering protection.
Thank you for taking action,
George
Public Citizen
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