Phantom firms exist only on paper. They are fake companies set up to hide the identity of the people who control them. They allow criminals, corrupt politicians and dodgy businesses to profit – while robbing Africa of much-needed resources.
European ministers and parliamentarians are now considering new laws to crack down on phantom firms. We’re calling for public disclosure of who owns and controls companies and trusts; armed with this information, citizens will be able to root out corruption and help to ensure that resources are used to fight extreme poverty rather than lost to dodgy deals.
Please crack down on phantom firms by ensuring that information about who owns and controls companies and trusts is made public.