Task Force Conference 2011: Session 1 – Beneficial Ownership
November 17th, 2011
Each week, the Task Force blog will feature a video relating to the global fight against corruption, tax evasion, and poverty.
This week, U.S. Rep. Carolyn Maloney (D-NY) introduced the Incorporation Transparency and Law Enforcement Assistance Act. The bill would require all U.S. corporations to disclose a real human being as the beneficial owner of the corporation. Ann Hollingshead wrote a great blog post about the bill earlier this week.
This week’s featured video shows an excellent discussion about beneficial ownership from the Task Force 2011 Conference in Paris, France. They discuss how a lack of disclosed beneficial ownership protects corrupt dictators and tax dodgers from law enforcement scrutiny, why legitimate businesses will not be hurt by the requirement, and implications for international development.
The panel is chaired by Anthea Lawson of Global Witness, and includes Raymond Baker, Director of the Task Force and Global Financial Integrity and Jean Pesme, Coordinator of the Stolen Asset Recovery Initiative (StAR) at the World Bank.
The video is a valuable tool for anyone who wants or needs to know more about how illicit money is moved around the globe. It runs for 1 hour.
You can both access our library of videos and at the Task Force’s Youtube page.