FACT Welcomes Treasury Department Proposal to Advance Implementation of the Corporate Transparency Act
The FACT Coalition welcomes the release by Treasury of the second draft rule – this time, defining directory access protocols – necessary to implement the landmark Corporate Transparency Act.
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New Alert on Russian Sanctions Evasion Demonstrates Need for AML Safeguards in Commercial Real Estate and Private Investment Funds
Vulnerabilities in commercial real estate markets recently identified by FinCEN only further reinforce the need for comprehensive regulatory action to address money laundering through U.S. real estate.
Treasury Announces Timeline for New Rule Cracking Down on Money Laundering Through US Real Estate
In an encouraging signal of anti-corruption progress to come in 2023, the Treasury Department announced its intention to release a draft rule targeting money laundering through US real estate markets this April.
Microsoft, Cisco Shareholder Votes Demonstrate Increasing Investor Demand for Tax and Offshore Transparency
Microsoft investors representing more than $305 billion voted in favor of a shareholder proposal calling on the company to publicly disclose information about its offshore operations and tax practices on a country-by-country basis at Microsoft’s annual general meeting.
Congress Provides Needed Boost to Budget of Nation’s Financial Crime Fighters in New Omnibus Spending Bill
Congress unveiled its long-negotiated omnibus spending bill to fund the federal government for fiscal year 2023, which includes $190.2 million for the Financial Crimes Enforcement Network (FinCEN).