FACT Coalition Applauds First Ever U.S. “Strategy on Countering Corruption”

“This strategy to combat corruption is welcome and long overdue. It is an important sign of the Biden Administration’s commitment to tackle the global corruption that corrodes democracies at home and abroad,” said Ian Gary, executive director of the FACT Coalition. “The strategy is an important step to address the fact that U.S. financial secrecy enables corruption and illicit financial flows. It must also be backed by the money and resources to match the scale of the global threat.”

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Massive and Opaque U.S. Private Investment Industry Presents Major National Security and Corruption Threats

The $11 trillion U.S. private investment industry represents a gaping hole in the U.S. anti-money laundering framework and makes the U.S. an attractive destination for illicit financial flows, according to a joint report released today by the Financial Accountability and Corporate Transparency (FACT) Coalition, Global Financial Integrity, and the Transparency International U.S. Office.

Press Releases & Statements

FACT Sheet: Build Back Better International Tax Reform Summary

An Overview of US International Corporate Tax Laws and a Comparison of Build Back Better Proposals to Fix Them

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December Marks Historic Progress for Anti-Corruption Reform: Just the FACTs: January 5

January 5, 2022 | Newsletter

The announcement of new anti-corruption initiatives by the White House and Treasury’s FinCEN in December mark historic progress for anti-corruption reform.

Our Banner Year at the FACT Coalition

December 16, 2021 | Blog

While the world – and our country – faced many intersecting challenges, we’ve had a banner year of campaigning success. Beyond policy wins, we’ve helped change the narrative to argue that corruption and tax avoidance are major threats to democratic societies. None of this would have been possible without the collaboration of our members, allies, funders, and friends.

Before W&M Oversight Subcommittee, FACT Government Affairs Director Erica Hanichak Calls on Congress to Deny Safe Haven to Tax Evasion and Illicit Finance

December 8, 2021 | In the News

FACT Government Affairs Director Erica Hanichak spoke before the Ways and Means Oversight Subcommittee in a hearing on the Pandora Papers. In her oral testimony, she stressed that Congress must fulfill its role in denying financial safe haven to tax evaders, drug traffickers, human rights abusers, kleptocrats, terror financiers, and sanctions dodgers.

FACT Coalition Welcomes Treasury Move to Implement Corporate Transparency Act

December 7, 2021 | Press Releases & Statements

“The FACT Coalition warmly welcomes this proposed rule, and we are glad to see Treasury’s FinCEN implementing the plain language of this landmark beneficial ownership disclosure law,” said Ian Gary, Executive Director of the FACT Coalition. “These rules, along with the earlier releases this week of the White House’s Strategy on Countering Corruption and the notice of proposed rulemaking from FinCEN aimed at tackling systemic money laundering vulnerabilities in the U.S. real estate sector are a clear demonstration of an emerging American commitment to tackling global corruption, which corrodes democratic governance both at home and abroad.”