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.
The United States could be moving one step closer to freedom from its role as an enabler of global kleptocracy. Two weeks ago, lawmakers in the House Armed Services Committee voted to include the ENABLERS Act in this year’s National Defense Authorization Act (NDAA). The bipartisan reforms in the Act would enlist certain professional service providers – the financial gatekeepers on the front lines of the U.S.’ anti-money laundering defense – into the fight against kleptocracy by instituting common sense procedures to detect, flag, and prevent the laundering of corrupt and criminal funds.
Bad actors beware – it’s #KleptoMonth again in Washington, D.C. In their announcement last Friday, the bipartisan leadership of the Congressional Caucus against Foreign Corruption and Kleptocracy (CAFCAK) joined dozens of civil society activists, the FACT Coalition among them, in calling for the rest of Congress to take action.
On May 25, Amazon shareholders representing $144 billion backed a shareholder proposal calling for increased tax transparency by the company at its annual general meeting. The proposal represents a first of its kind campaign by investors to advance a vote on public country-by-country reporting.
The United States has been ranked the most secretive financial jurisdiction in the world for the first time, according to the 2022 Financial Secrecy Index (FSI), a comprehensive study from the Tax Justice Network launched in the U.S. by the FACT Coalition on May 17th
On April 28th, Himamauli Das, Acting Director of FinCEN, appeared before the House Committee on Financial Services in an important oversight hearing to provide an update on FinCEN’s implementation of the Anti-Money Laundering Act of 2020 (AML Act), including the Corporate Transparency Act (CTA).
