FACT Sends Comments to Curb the Misuse of Trusts and Other Legal Arrangements – FATF Recommendation 25
The FACT Coalition offers advice to the Financial Action Task Force as a part of their public consultation on Recommendation 25.
Crucial Funds Will Support the Financial Crimes Enforcement Network in Finalizing Overdue Anti-Money Laundering Reforms: Just the FACTs: July 25th
This new appropriations budget represents a 31 percent increase in FinCEN’s budget over FY2022 enacted levels and meets the amount requested by the Biden Administration in the President’s discretionary budget request earlier this year.
Strategic Collaborations: Addressing the U.S. Role as a Destination for Illicit Finances from Africa
To tackle global corruption, the U.S. must start by cleaning up its own house through the reforms discussed in this blog, as well as by working collaboratively with African nations, civil society actors, and professionals to properly stem the root causes and key loopholes that enable capital flight, illicit financial flows, and corrupt or criminal financial abuses.
Amazon Shareholders Representing $144 Billion Endorse Tax Transparency Shareholder Proposal Co-filed by FACT Coalition Member: Just the FACTs: June 6
On May 25, Amazon shareholders representing $144 billion backed a shareholder proposal calling for increased tax transparency by the company at its annual general meeting. The proposal represents a first of its kind campaign by investors to advance a vote on public country-by-country reporting.
Addressing Capital Flight from Africa is a Global Task
Africa loses significantly more cash to capital flight than it obtains from development aid, external borrowing, or foreign direct investment. In a real sense, Africa is a “net creditor” to the rest of the world.
The U.S. Ranked Most Secretive Financial Jurisdiction in the World: Just the FACTs: May 20
The United States has been ranked the most secretive financial jurisdiction in the world for the first time, according to the 2022 Financial Secrecy Index (FSI), a comprehensive study from the Tax Justice Network launched in the U.S. by the FACT Coalition on May 17th