WSJ: Sanctioned LPs Complicate Private-Equity Fund Dynamics
FACT’s Ryan Gurule is quoted in the Wall Street Journal: “Private funds are “a black hole” because of their lack of requirements for vetting and reporting investors,”
Politico: Oligarchs’ big loophole for stashing money
FACT’s Erica Hanichak is quoted in Politico: “Russia’s invasion of Ukraine shines a spotlight on what we already know — kleptocrats and criminals have manipulated the chinks in the armor protecting Western financial systems in order to safeguard their own ill-gotten gains,”
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
PBS Frontline: Post-Pandora Papers, a Big Week of Federal Activity Examines Hidden Wealth
PBS Frontline quotes FACT’s Executive Director, Ian Gary, and Government Affairs Director, Erica Hanichak
AP: House committee wants trust secrecy cut after Pandora Papers
FACT’s Erica Hanichak is quoted in the Associated Press: “It is imperative that Congress fill its oversight and appropriations role to aid the administration in denying financial safe haven, not only to tax evaders, but also to drug traffickers, human rights abusers, kleptocrats, terror financiers and sanctions dodgers.”
Washington Post: Praise the Pandora Papers
The stunning front-page coverage of the Pandora Papers and the harms caused by anonymous shell companies and trusts based in U.S. states such as South Dakota reinforces the need to ensure that the landmark Corporate Transparency Act.