Maloney Introduces Insurrection Financing Transparency Act

WASHINGTON, DC – Congresswoman Carolyn B. Maloney (D-NY), author of the Corporate Transparency Act – which became law on January 1, 2021 — on January 15, introduced the Insurrection Financing Transparency Act. This bill would provide law enforcement agencies investigating the attack on the Capitol Building with the authority to immediately require a company to disclose its beneficial owners if it is the subject of an investigation in relation to the events of January 6.

Money that is used to pay for these kinds of events often comes through shell companies — and in the United States, it is impossible to find out who is truly behind these shell companies. Last year, the Congresswoman’s Corporate Transparency Act became law. This bill cracks down on anonymous shell companies by requiring companies to disclose their true, beneficial owners to the Financial Crimes Enforcement Network (FinCEN) at the time the company is formed. However, this FinCEN database of beneficial ownership information will not be available for another two years.

“Our nation is still reeling from the horrific attacks on democracy and the Capitol Building on January 6, 2021, and I am determined to investigate this assault and ensure similar events never happen again. Just as important as it is to prosecute the rioters, it is equally important to investigate the financing behind this mob attack. If we are to fully understand how these riots occurred, we must follow the money.

“Given the seriousness of the assault against our nation, we cannot afford to wait two years for the FinCEN beneficial ownership database to be up and running to find out who financed the attack, and who financed the events that led up the attack. We must act now to give our law enforcement agencies the authorities they need to fully investigate the January 6 assault, and to follow the money — wherever it leads.”


The Insurrection Financing Transparency Act would grant a law enforcement agency the authority to require companies to immediately disclose their Beneficial Ownership information, if the law enforcement agency certifies the request is required to carry out the agency’s investigation into the January 6 attack on the U.S. Capitol. Non-compliance would subject companies to civil and criminal penalties.


Ambassador Dimitrios Tsikouris (JD, MA) has a 36-year-long career in the Greek Diplomatic Service with assignments in Germany, the United Nations, New Orleans, Washington, DC, NATO Defense College in Rome, Italy, Iran, Belgium, Indonesia, Malaysia, and ASEAN.

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