Today, Elizabeth Rosenberg, Assistant Secretary for Terrorist Financing and Financial Crimes at the U.S. Department of the Treasury, and Andrew Adams, Director of the Task Force KleptoCapture at the Department of Justice, testified before the Senate Committee on Banking, Housing, and Urban Affairs on steps the Administration is taking in response to Russia’s invasion of Ukraine.
In response to a question from Senator Van Hollen in a Senate oversight hearing, Chair Gensler says the SEC is considering disclosures to give investors better insights into where corporations book profits and pay taxes.
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.
Today, the House of Representatives passed a six-bill appropriations package (H.R. 8294) for fiscal year 2023 that includes $210.33 million for the Financial Crimes Enforcement Network (FinCEN).
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.
Today, Sens. Whitehouse (D-RI) and Grassley (R-IA), published a letter signed by 23 bipartisan Senators addressed to congressional appropriators to urge increased funding for the Financial Crimes Enforcement Network (FinCEN).
