Manhattan District Attorney Cy Vance, Jr. this week encouraged lawmakers to pass a federal domestic terrorism statute to accomplish President Biden’s inaugural address pledge to “confront” and “defeat” the rise of homegrown extremist violence.
The danger domestic terrorism poses to the health of our nation is undeniable at the outset of the Biden administration. But so too is the opportunity to confront white supremacist violence—and reckon with our history of racism and racist violence—if our leaders are willing to act.
Members of Congress and advocacy groups, such as Transparency International, deserve credit for their monumental achievement on anonymous shell companies. The great thing about accomplishing so much on the year’s opening day is there’s nothing but time to achieve greater incorporation transparency in 2021.
Manhattan District Attorney Cy Vance, Jr. today urged the Biden administration to pursue bold new measures to help prosecutors further combat money laundering and financial fraud now that Congress has passed the Corporate Transparency Act, a “laudable first step” in this fight.
For years, law enforcement officials have warned that this situation presents an attractive loophole for criminals looking to launder the proceeds of their crimes. In 2018, Manhattan District Attorney Cyrus Vance, Jr., called for a national register of beneficial owners, similar to the one created under the regulations Congress just approved.