Press Releases & Statements

Bipartisan Bill Cracking Down on American Enablers of Money Laundering Introduced in U.S. Senate

FACT Applauds Major Step for U.S. Anti-Corruption Efforts and Urges Act’s Inclusion in Must-Pass Defense Bill 

WASHINGTON, DCThe Financial Accountability and Corporate Transparency (FACT) Coalition today commended the introduction by Senators Whitehouse (D-RI) and Wicker (R-MS) of the Establishing New Authorities for Businesses Laundering and Enabling Risks to Security (ENABLERS) Act as an amendment to the Senate National Defense Authorization Act (NDAA). The ENABLERS Act would authorize the Treasury Department to require that professional service providers acting as gatekeepers to the U.S. financial system conduct basic anti-money laundering procedures to establish the legitimacy of funds entering the country.

“One year ago today, the Pandora Papers – the largest leak of financial documents and data in history – shone a light on the abuse of secrecy jurisdictions to hide illicit funds by criminals and corrupt regimes around the world,” said Ian Gary, Executive Director of the FACT Coalition. “Unfortunately, the revelations provided by the Pandora Papers also included a newfound understanding of our nation’s role as perhaps the single most important supplier of financial secrecy in this vast network of illicit finance. If enacted, the ENABLERS Act would represent a sea change in American law to directly address the complicity of U.S. professional service providers in the stashing of dirty money within our borders.”

Though already passed as an amendment to the House NDAA, the ENABLERS Act amendment is now under consideration for inclusion in the Senate’s version of the must-pass defense bill.

“We are encouraged by the growing bipartisan support for these critical reforms,” said Gary. “With Vladimir Putin’s invasion of Ukraine, and the international effort to track down and freeze Russian assets abroad, Washington is waking up to the importance of securing the U.S. financial system from abuse by criminals and kleptocrats. In order to close the door on illicit funds moving through the U.S., lawmakers must first address significant vulnerabilities in our nation’s anti-money laundering laws. The FACT Coalition thanks Senators Whitehouse and Wicker for their leadership on this vital issue, and calls on the Senate to pass the ENABLERS Act before the end of the year.”


Notes to the Editor

  • Read statements on the introduction of the ENABLERS Act as an amendment to the Senate NDAA by Senators Whitehouse and Wicker here: Senator Whitehouse; Senator Wicker
  • Read a fact sheet on the ENABLERS Act by FACT Coalition member Transparency International-U.S. here.
  • The full text of the Senate version of the ENABLERS Act can be found here.
  • Watch a press briefing hosted by the FACT Coalition on the occasion of the one year anniversary of the Pandora Papers here.