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.
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,”
Today, Sens. Whitehouse (D-RI) and Grassley (R-IA), published a letter signed by 23 bipartisan Senators addressed to congressional appropriators to urge increased funding for the Financial Crimes Enforcement Network (FinCEN).
Rep. Carolyn Maloney joined FACT and the Tax Justice Network in discussing the launch of the 2022 Financial Secrecy Index and what it means for the U.S. transparency agenda
Today, the United States was ranked the most secretive financial jurisdiction in the world, according to the 2022 Financial Secrecy Index (FSI).
Join the Financial Accountability and Corporate Transparency (FACT) Coalition on May 17th for the U.S. launch of the Financial Secrecy Index, a flagship research initiative of the Tax Justice Network. The Financial Secrecy Index ranks countries around the world based on “how intensely the country’s financial and legal system allows individuals to hide and launder money extracted from around the world.”
FACT’s Policy Director Ryan Gurule and Gary Kalman of FACT-Member Transparency International Spoke Today in a Legislative Briefing for New York’s Legislature on the Importance of Implementing Corporate Transparency Reforms through New York’s LLC Transparency Act
