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For Immediate Release

Contact

Greg Williams, Communications Director
greg@jubileeusa.org / (o) (202) 783-3566 x101 (m) (443) 854-1405

Press Release

Religious Development Coalition Releases Statement on "Panama Papers"

WASHINGTON -

More than 11 million leaked documents from one of the world's largest "off-shore" law firms reveal how the global financial system enables corruption and tax evasion. The "Panama Papers" highlight the role that anonymously formed companies play in facilitating money laundering and crime. The leak is the largest known to date and involves heads of state and other prominent officials.

Eric LeCompte, Executive Director of the religious development group Jubilee USA, releases the following statement:

"The Panama Papers is the biggest leak we've ever seen on how global corruption and tax evasion is facilitated.

"Corruption and money laundering are not victimless crimes. The most vulnerable people in the world are harmed by financial secrecy.

"Congress should pass legislation to make it more difficult to set up anonymous companies here in the US. These companies fuel corruption, poverty, human trafficking and armed conflict. 
 
"Congress can pass the Incorporation Transparency and Law Enforcement Assistance Act and move meaningful legislation to stop corruption and tax evasion."

Read more about the Incorporation Transparency and Law Enforcement Assistance Act

Read more about the crime and corruption facilitated by shell companies

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Jubilee USA Network is an interfaith, non-profit alliance of religious, development and advocacy organizations. We are 75 U.S. institutions and more than 750 faith groups working across the United States and around the globe. We address the structural causes of poverty and inequality in our communities and countries around the world.

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