The FACT Coalition Welcomes First Final Rule to Implement Landmark Corporate Transparency Act

On September 29th, the Treasury Department released the first final rule to implement the landmark Corporate Transparency Act. FACT urged the Treasury Department to accelerate the remaining rulemaking processes to fully implement this ground-breaking anti-money laundering reform. The rulemaking brings the U.S. one step closer to casting off its reputation as the world’s top financial secrecy jurisdiction.

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JULY 28 REPORT LAUNCH: “A Material Concern: The Investor Case for Country-by-Country Reporting”

FACT’s latest report, “A Material Concern: The Investor Case for Country-by-Country Reporting,” spotlights examples of dramatic revenue and tax implications for investors stemming from global events and tax practices of major multinational companies like Amazon, Pfizer, McDonalds, Shell, and Dell, that current public company disclosure requirements fail to address. 

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June 22 Book Launch: “Butler(s) to the World” – Ending Dirty Money in the UK and US

On the occasion of the U.S. publication of investigative journalist Oliver Bullough’s latest book, Butler to the World: How Britain Helps the World’s Worst People Launder Money, Commit Crimes, and Get Away with Anything, the author joined the Financial Accountability and Corporate Transparency (FACT) Coalition, alongside legislators and advocates from the U.S. and U.K., to discuss the problems caused by dirty money in the U.K. and U.S. and how to foster transatlantic competition to crack down on dirty money in both jurisdictions.

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Two US companies commit to tax transparency. When will others make the move?

October 6, 2022 | Blog

US companies have resisted the public country-by-country reporting of key financial information that is necessary for adequate tax transparency. Hess and Newmont’s announcements show that US companies are finally catching up with their international peers.

Bipartisan Bill Cracking Down on American Enablers of Money Laundering Introduced in U.S. Senate

October 3, 2022 | Press Releases & Statements

The Financial Accountability and Corporate Transparency (FACT) Coalition today commended the introduction by Senators Whitehouse (D-RI) and Wicker (R-MS) of the Establishing New Authorities for Businesses Laundering and Enabling Risks to Security (ENABLERS) Act as an amendment to the Senate National Defense Authorization Act (NDAA).

Human Rights Violations and Illicit Finance – The Inexorable Tie

October 3, 2022 | Blog

Let’s talk statistics. On an average year, anywhere between 300 billion to 2 trillion U.S. dollars are laundered globally. To put it into perspective, this sum rivals the economic output of Brazil, the world’s eighth largest economy. As numbers grow, the United States’ position on money laundering and financial transparency policies continues to falter, further …

Congressional Stop-Gap Budget Delays Critical Investments in Anti-Corruption Agency

September 30, 2022 | Press Releases & Statements

Today, Congress passed a continuing resolution to fund the U.S. government through December 16, which now awaits President Biden’s signature. While the measure will ensure that agencies can continue operations at existing budgetary levels, the resolution puts off approving the increased funding for key offices in the U.S. Treasury Department contemplated in both chambers’ appropriations bills for fiscal year 2023.