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.
Following last month’s historic agreement on a 15 percent global minimum tax rate at the G7 Finance Ministers meeting, a groundbreaking 130 countries came together to support the Organization for Economic Cooperation and Development (OECD)’s Inclusive Framework, in another sign of accelerating progress on global taxation reform.
FACT’s New Policy Director Ryan Gurule Shares Reflections on Why He’s Enlisting in the Fight for Fair Tax and an End to Corruption
FACT Coalition Welcomes Ryan Gurule as FACT’s New Policy Director
The United States has just delivered a clear message to the world’s kleptocratic elite: we’re back, and you’re on notice. The past few weeks have brought a whirlwind of developments toward the international anti-corruption agenda.
The Financial Accountability and Corporate Transparency (FACT) Coalition today warmly welcomed the Biden Administration’s move establishing combatting corruption at home and abroad as a core U.S. national security interest. The National Security Study Memorandum, and President Biden’s directive to the National Security Advisor to develop a national strategy to combat corruption, represents a significant and timely elevation of the fight against corruption and financial secrecy.
The U.S. Congress announced today the formation of the new, bipartisan Caucus Against Foreign Corruption and Kleptocracy. The caucus – chaired by Reps. Tom Malinowski (D-NJ) and John Curtis (R-UT) and vice-chaired by Reps. Bill Keating (D-MA) and Brian Fitzpatrick (R-PA) – will be a forum to educate and mobilize Members of Congress on cross-cutting domestic and foreign policy reforms to tackle corruption.
