Take Action Donate

Ownership Transparency

The U.S. is the easiest place in the world for a criminal, terrorist, tax cheat, or kleptocrat to open an anonymous shell company to launder their money with impunity. Anonymous corporations are great ways to hide money and other assets — they can hold a bank account or buy a yacht. Criminals often layer anonymous corporations, with one owning another and so on, making it even harder for law enforcement to “trace the money” and figure out who is directing the company’s activity. It’s time to ending the use of anonymous shell companies as vehicles for illicit activity by requiring that the true owners of U.S. companies be disclosed at the time of formation and updated upon any change.

FACT Welcomes Treasury Department Action to Counter Money Laundering through U.S. Real Estate

WASHINGTON, DC – In a comment letter submitted yesterday, the FACT Coalition welcomed action by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to bring the U.S. real estate sector under the purview of federal anti-money laundering safeguards. The FACT Coalition offered guidance on how FinCEN should craft a rulemaking that would introduce permanent, nationwide standards to address illicit financial risks in the sector.

Read More

Washington Post: Congress can help in the anti-corruption fight

Congress should approve a budget that meets the administration’s request to increase FinCEN’s resources to $191 million to enable the agency to minimize the U.S. role in global corruption, both by modernizing the U.S. anti-money laundering framework and by implementing the landmark Corporate Transparency Act

Read More