Money laundering fuels everything from terror finance and sanctions evasion to human trafficking and corruption. However, experts warn that our anti-money laundering efforts are on the brink of failure, as law enforcement only interdicts less than one-half of one percent of the trillions of dollars laundered each year. We need a new approach to addressing money laundering and the dangerous threats to our safety and security from the crimes funded through illicit finance.
“In striking down this rule, the district court in Texas has just sided with cartels, money launderers, and U.S. adversaries and given them free license to continue moving their dirty cash through U.S. real estate.” – Ian Gary, executive director of the FACT Coalition.
In this month’s edition of Just the FACTs, FACT releases analysis of new tax disclosures, and Treasury’s new money laundering risk assessment reaffirms many known threats, but downplays domestic shell companies.
“FinCEN’s new reporting requirements will help deter the most egregious cases of money laundering through real estate while giving law enforcement and national security officials better tools to investigate and tackle these flows.” – FACT Executive Director Ian Gary
In this week’s edition of Just the FACTs, a U.S. District Court upholds landmark new anti-money laundering regulations for the residential real estate market, FACT hosts a virtual book talk with author Oliver Bullough, and Treasury moves to undermine the Corporate Alternative Minimum Tax.
RSVP now for FACT’s virtual book talk with Oliver Bullough, author of the new book “Everybody Loves Our Dollars – How Money Laundering Won” on February 26 from 12-1 p.m.
Read FACT’s official comments submitted to Governor González-Colón urging the veto of a bill that would weaken Puerto Rico’s access-to-information framework.
