News & Events | Page 26 | The FACT Coalition

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

February 22, 2022

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.

Corporate Transparency Act’s Draft Rule Applauded by FACT Coalition

February 8, 2022

The Financial Accountability and Corporate Transparency (FACT) Coalition submitted detailed comments yesterday in response to the Treasury Department’s call for public input on a draft rule to implement the Corporate Transparency Act (CTA)

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

December 20, 2021

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

Before W&M Oversight Subcommittee, FACT Government Affairs Director Erica Hanichak Calls on Congress to Deny Safe Haven to Tax Evasion and Illicit Finance

December 8, 2021

FACT Government Affairs Director Erica Hanichak spoke before the Ways and Means Oversight Subcommittee in a hearing on the Pandora Papers. In her oral testimony, she stressed that Congress must fulfill its role in denying financial safe haven to tax evaders, drug traffickers, human rights abusers, kleptocrats, terror financiers, and sanctions dodgers.

FACT Coalition Welcomes Treasury Move to Implement Corporate Transparency Act

December 7, 2021

“The FACT Coalition warmly welcomes this proposed rule, and we are glad to see Treasury’s FinCEN implementing the plain language of this landmark beneficial ownership disclosure law,” said Ian Gary, Executive Director of the FACT Coalition. “These rules, along with the earlier releases this week of the White House’s Strategy on Countering Corruption and the notice of proposed rulemaking from FinCEN aimed at tackling systemic money laundering vulnerabilities in the U.S. real estate sector are a clear demonstration of an emerging American commitment to tackling global corruption, which corrodes democratic governance both at home and abroad.”