On March 1, a federal district judge in Alabama issued an opinion finding the landmark Corporate Transparency Act unconstitutional, potentially undermining a once-in-a-generation U.S. anti-money laundering and national security victory.
FACT welcomes Treasury’s release of draft regulations introducing common-sense anti-money laundering safeguards for the U.S. private investment industry. The draft rule builds upon a slew of recent moves by Treasury to protect U.S. markets from dirty money.
FACT welcomes the release by Treasury of much-needed draft reforms closing loopholes that have, for decades, allowed international and domestic bad actors to launder money through U.S. real estate markets.
FACT welcomes the release by Treasury of the final rule necessary to begin reporting under the landmark Corporate Transparency Act. The upcoming launch of Treasury’s beneficial ownership database on January 1, 2024 represents the largest U.S. anti-money laundering victory in decades.
New regulations tackling money laundering in the titanic U.S. real estate and private investment sectors are now expected in early 2024, per a fact sheet released by Treasury on the first day of this week’s UN anti-corruption conference in Atlanta.
FACT applauds the reintroduction of the FOREST Act, which would add illegal deforestation as a specified unlawful activity, or “predicate offense” for money laundering, empowering U.S. law enforcement to better track down and combat environmental crime.