Defense Bill Includes Two Landmark Transparency Provisions
As 2021 began, Congress passed two landmark laws that will help improve the transparency of federal contractors and combat the use of anonymous shell companies for money laundering.
How a Mini Movement Overturned Secret US Shell Companies
Swiss bankers, and many other tax haven operatives, have always complained that they are unfairly victimised by international anger over their financial secrecy practices. “What about Delaware,” they routinely asked, “how come they can get away with it?”
And, at least in this respect, they had a point, even though it was merely a cheap exercise in what-aboutism. But, as of January 1, no longer:
An Impressively Broad Coalition Just Did Something Big to Combat Money Laundering
Particularly in the wake of the tumultuous events of last week, it feels as though America’s divisions are so deep that our government cannot take meaningful action. However, there have been recent moments of successful bipartisan cooperation that deserve celebration.
FACT Sheet: A Brief Summary of The Corporate Transparency Act (Title LXIV of the NDAA, H.R. 6395)
A Brief Summary of The Corporate Transparency Act of 2019.
What does the US election result mean for anti-money laundering efforts?
New blog from FACT’s Clark Gascoigne discusses the election’s impact on AML policy.
FACT Sent Comments to FinCEN on Proposed Renewal of Due Diligence Requirements
The FACT Coalition sent comments to FinCEN on proposed renewal of due diligence requirements.