Press

FIFA Bribery Scandal Raises Questions about Anti-Money Laundering Checks in U.S. Banks

The recent bribery scandal involving soccer’s international governing body, FIFA, has revealed involvement of U.S. banks in moving alleged bribes through the financial system, raising questions about whether the banks were properly implementing and applying anti-money laundering rules, including customer due diligence on shell companies, and verifying the source of funds coming into the accounts. The corruption allegations, which have resulted in the resignation of FIFA President Sepp Blatter, demonstrate the need for stronger regulations and enforcement, the FACT (Financial Accountability and Corporate Transparency) Coalition said today.

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An End to Loopholes and Restoring Fairness: FACT Submits Comments to Senate Finance Working Groups on International Taxes

The FACT (Financial Accountability and Corporate Transparency) Coalition today submitted comments to the Senate Finance Committee¹s Business Income Tax and International Tax Working Groups calling for a number of substantive changes in the tax code to restore fairness and to close loopholes that allow U.S. multinational corporations to avoid taxes.

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FACT Lauds Passage in UK of Transparency Law

The FACT (Financial Accountability and Corporate Transparency) Coalition today praised the passage of legislation in the United Kingdom to crack down on the use of anonymous shell companies with the creation of a public registry of corporate ownership. The new law brings increased pressure on the United States to follow suit.

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Endorsing Tax Evasion

By Rebecca Wilkins

A vote in favor of repealing FATCA sends a message: a message to foreign banks that they can get back to helping wealthy Americans hide their assets and use offshore accounts to evade tax.

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FACT Coalition Lauds Introduction of Stop Tax Haven Abuse Act

The FACT (Financial Accountability and Corporate Transparency) Coalition today welcomed the introduction by Senator Sheldon Whitehouse (D-RI) and Rep. Lloyd Doggett (D-TX) of the Stop Tax Haven Abuse Act, which would close a number of loopholes used by corporations and wealthy individuals to avoid taxes.

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