BENEFITING: GLOBAL WITNESS FOUNDATION
ORGANIZER: GLOBAL WITNESS FOUNDATION
EVENT DATE: Nov 24, 2015
Revealing the shady dealings of nameless, faceless companies
Layers of paper companies provide legal smokescreens for people responsible for some very visible crimes like corruption, tax evasion and environmental destruction.
At Global Witness we’ve often described anonymous company ownership as “the worst problem you’ve never heard of”. Layers of paper companies provide legal smokescreens for people responsible for some very visible crimes like corruption, tax evasion and environmental destruction. So our argument goes that if we close this loophole, we will go a long way to fixing a lot of the problems they facilitate, which governments and law enforcement are spending lots of taxpayer money trying to stop.
Our proposed solution is pretty simple. Each country should have publicly accessible register of the real “beneficial owners” of companies, so law enforcement and others can trace criminal activity. This would not pose a threat to legitimate businesses, it actually helps them by knowing who they are dealing with.
So it feels like common sense. But for a long time, nobody was that interested in fixing this problem. People were sympathetic, but firm changes didn’t look likely.
We need your help to make this a reality. Please give what you can to help us end anonymous companies and remember that for every $100 that you donate, we will receive an extra $50 from the Open Society Foundations.
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