Erica Hanichak

Erica Hanichak, Government Affairs Director

Senate Falls Short on Crucial Funding for U.S. Financial Crime Fighters

Today, the Senate Appropriations Committee released its draft appropriations bills for fiscal year 2023 that provided just $189 million to the Financial Crimes Enforcement Network (FinCEN). While it is an increase above FY2022 enacted levels, the Senate figure falls short of the funding approved last week by the House and requested by the President by a sum of $21 million.

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House Approves Bipartisan Act to Rein In the Enablers of Corruption

Yesterday, the U.S. House of Representatives approved as part of the must-pass defense spending bill the “ENABLERS” Act. The Act requires certain professional service providers that are best positioned to act as “gatekeepers” to the U.S. financial system to adopt common sense anti-money laundering procedures that can help detect, flag, and prevent the laundering of corrupt and other criminal funds into the United States.

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