Treasury Reopens the Floodgates to Dirty Money in the U.S.
The Treasury Department’s decision to limit reporting requirements under the landmark Corporate Transparency Act to only foreign entities is a boon for fentanyl traffickers, domestic criminals, and tax cheats.
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Law Enforcement, Members of Congress Protest Gutting of Corporate Transparency Act: Just the FACTs 4/3/25
The Treasury issues an interim final rule that guts the CTA, Law Enforcement and financial transparency experts protest, and a hearing on fraud prevention brought attention to the issue of anonymous shell companies.
Fentanyl Traffickers, U.S. Adversaries Biggest Winners in New Treasury Proposal Benefitting Money Launderers
“Treasury’s proposal contradicts decades of evidence that sanctions evaders, tax cheats, and fentanyl traffickers rely on anonymous U.S. companies to stash their illicit cash in the U.S. financial system.
Misguided Anti-Money Laundering Action Moves Away from Risk-Based Approach and into Political Waters
Prioritizing small scale, politicized anti-money laundering policies over meaningful structural reforms will do little to protect Americans from the impacts of illegal drug trafficking, writes FACT program director for environmental crime and illicit finance Julia Yansura.
Treasury Exempts 99 Percent of Entities from Ownership Reporting, Gutting Landmark Anti-Money Laundering Law: Just the FACTs 03/06/25
The Treasury suspends ownership reporting requirements for most entities, a House Financial Services Committee Hearing emphasizes the importance of the Corporate Transparency Act, and mass IRS layoffs threaten US revenue collection.