This report by Global Financial Integrity and Global Witness, “Chancing It: How Secret Company Ownership is a Risk to Investors,” draws on ten cases involving anonymous companies. The report was released in Singapore as hundreds of investors gather at the PRI in Person conference and shows how corporate secrecy can damage the global economy, and hurt unwitting investors. As repeatedly shown by Global Witness, Global Financial Integrity and others, anonymously-owned shell companies are used by the criminal and corrupt to evade taxes, facilitate bribe payments and skirt sanctions. They are also used to win government contracts at the expense of legitimate businesses, finance terrorism and launder earnings from trafficking human beings, weapons and drugs and pension fund holders. The Financial Transparency Coalition, of which Global Financial Integrity and Global Witness are members, supported this project.
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