U.S. Freeze of Russian Oligarch Assets Welcomed by FACT Coalition
The FACT Coalition welcomed the White House announcement of a “multilateral Transatlantic task force” to identify and freeze the assets of sanctioned Russian companies and oligarchs.
FACT Welcomes Treasury Department Action to Counter Money Laundering through U.S. Real Estate
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
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)
December Marks Historic Progress for Anti-Corruption Reform: Just the FACTs: January 5
The announcement of new anti-corruption initiatives by the White House and Treasury’s FinCEN in December mark historic progress for anti-corruption reform.
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
Before W&M Oversight Subcommittee, FACT Government Affairs Director Erica Hanichak Calls on Congress to Deny Safe Haven to Tax Evasion and Illicit Finance
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.