The Administration must accelerate its efforts on AML by fully implementing U.S. anonymous entity beneficial ownership transparency rules and advancing long-overdue regulatory overhauls on U.S. real estate and private investment fund markets within the coming year.
Ahead of COP27, the U.S. can certainly point proudly to its historic investments of hundreds of billions of dollars into clean energy. An additional way for the Biden administration to bolster its climate policy is by finishing the job on a slew of anti-corruption reforms.
US companies have resisted the public country-by-country reporting of key financial information that is necessary for adequate tax transparency. Hess and Newmont’s announcements show that US companies are finally catching up with their international peers.
Let’s talk statistics. On an average year, anywhere between 300 billion to 2 trillion U.S. dollars are laundered globally. To put it into perspective, this sum rivals the economic output of Brazil, the world’s eighth largest economy. As numbers grow, the United States’ position on money laundering and financial transparency policies continues to falter, further …
The Sentry’s report points to major ways the international community must act to deny kleptocrats the “brain trust” on which they rely to perpetrate their crimes. It’s up to the U.S. to be a leader, not a laggard, in implementing a robust anti-money laundering regime.
As world leaders gather this week in New York for the United Nations General Assembly (UNGA), an epidemic of offshore wealth looms large over efforts to safeguard a turbulent post-pandemic world. Faced with myriad unpredictable crises, ranging from historic floods and droughts to widespread food scarcity and brewing recessionary fears, governments around the world are facing a need to raise revenues to stave off disasters and have a chance to meet the UN’s Sustainable Development Goals.
