PRIVATE INVESTMENTS PUBLIC HARM How the Opacity of the Massive U.S. Private Investment Industry Fuels Corruption and Threatens National Security

One easy thing to do here is to require that private equity funds publicly disclose their limited partners. @cjcmichel

@SenWhitehouse Some staggering numbers in this new report, on just how open the U.S. private investment/private equity/hedge fund markets are for gargantuan money laundering schemes:

Private investment funds—including private equity & hedge funds—manage over $10 trillion, yet have no anti-money laundering requirements. It’s time for Treasury to tackle the serious national security risks that poses.

https://thefactcoalition.org/wp-content/uploads/2021/12/Private-Investments-Public-Harm-How-the-Massive-and-Opaque-US-Private-Equity-Industry-Fuels-Corruption-and-Threatens-National-Security.pdf

The U.S. private investment market has:

—over $11 trillion dollars in assets

—~13,000 investment advisers

—minimal anti-money laundering regulations

—the “perfect confluence of factors that make it an ideal place to hide and launder the proceeds of corrupt/criminal activity”

Laundering in US private equity/hedge funds is really, truly, stupidly easy. Billions in illicit wealth transform, in just a few years, with no questions asked. Think of it as someone grabbing the control knob of the US money laundering machine, and turning it to the long cycle.