Why do civilized countries allow dirty money to wash through their economies?

How is it even possible to buy a $500 million superyacht or $50 million superapartment anonymously?

Congress has made some progress in recent months in the fight against global kleptocracy, and the Biden administration is right to put the fight against corruption at the heart of its political strategy.

But we have to go further. There’s no reason for any company, property or trust to be held anonymously. One piece of legislation can make such activity illegal.

Every democratic country needs to immediately make all ownership transparent. Tax havens need to be illegal. The only people who keep their houses, businesses, and income secret are criminals and tax cheats. Bring them to light.

Same goes for anonymous political donations from dark money. Secret coalitions with undisclosed donations like the Rockbridge Network, Sixteen Thirty Fund and Chestnut Street Council looking to reshape America need to be outlawed right now.

Politicians hold public office. As public citizens we have the right to know who is paying who and what they expect in return.

We’re supposed to be living in a democracy.

Not a cartel.

Reference

“Dissatisfied with their party, wealthy Republican donors form secret coalitions” The New York Times (2022)

“Dark money basics” Open Secrets (2022)