FACT Submits Testimony to Senate Appropriations Subcommittee Calling for Greater FinCEN Funding
FACT Testimony to Senate Appropriation’s Subcommittee on Financial Services and General Government Emphasizes Need for FinCEN Funding
Treasury Department Makes Urgent Plea for Funding for the Nation’s Financial Crime Fighters
Today, Deputy Treasury Secretary Wally Adeyemo testified before the Senate Appropriations Subcommittee on Financial Services and General Government (FSGG) to urge increased funding for the Financial Crimes Enforcement Network (FinCEN).
Summit Anti-Corruption Commitments Must Include U.S. Domestic Anti-Money Laundering Reforms
The Financial Accountability and Corporate Transparency (FACT) Coalition today reiterated the need for substantive U.S. leadership on key anti-corruption and financial transparency reforms after the opening speech by President Biden last night. Among the Summit’s themes is the reaffirmation of still unfulfilled anti-corruption commitments from the previous Summit of the Americas in Lima, Peru.
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.
Congress Approves Overdue Funds to Boost U.S. Anti-Money Laundering Reforms in Ukraine Aid Package
The FACT Coalition applauds the inclusion of $52 million in emergency funds for the U.S. Treasury Department as part of the appropriations package passed today by the U.S. Senate. Today’s vote sends the larger $40 billion Ukraine aid package to the President’s desk to sign into law, and will assist Ukraine in the face of Russia’s illegal invasion.
Bloomberg: Russian Billions Hidden in US Spur Backlash to Financial Secrecy
FACT’s Policy Director Ryan Gurule is quoted in Bloomberg: “New York is one of the most desirable commercial and real estate markets in the world, and kleptocrats, sanction evaders and otherwise bad actors want to access those markets anonymously,”