FACT Sends Comments to Curb the Misuse of Trusts and Other Legal Arrangements – FATF Recommendation 25
The FACT Coalition offers advice to the Financial Action Task Force as a part of their public consultation on Recommendation 25.
Senate Falls Short on Crucial Funding for U.S. Financial Crime Fighters
Today, the Senate Appropriations Committee released its draft appropriations bills for fiscal year 2023 that provided just $189 million to the Financial Crimes Enforcement Network (FinCEN). While it is an increase above FY2022 enacted levels, the Senate figure falls short of the funding approved last week by the House and requested by the President by a sum of $21 million.
Crucial Funds Will Support the Financial Crimes Enforcement Network in Finalizing Overdue Anti-Money Laundering Reforms: Just the FACTs: July 25th
This new appropriations budget represents a 31 percent increase in FinCEN’s budget over FY2022 enacted levels and meets the amount requested by the Biden Administration in the President’s discretionary budget request earlier this year.
House Passes Bill to Boost Budget of Nation’s Financial Crime Fighters
Today, the House of Representatives passed a six-bill appropriations package (H.R. 8294) for fiscal year 2023 that includes $210.33 million for the Financial Crimes Enforcement Network (FinCEN).
Strategic Collaborations: Addressing the U.S. Role as a Destination for Illicit Finances from Africa
To tackle global corruption, the U.S. must start by cleaning up its own house through the reforms discussed in this blog, as well as by working collaboratively with African nations, civil society actors, and professionals to properly stem the root causes and key loopholes that enable capital flight, illicit financial flows, and corrupt or criminal financial abuses.
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