FACT submitted comments this week praising a pair of proposed rules by Treasury which would close long standing loopholes used by foreign and domestic criminals to launder money through U.S. residential real estate and private investment markets.
Congress must move quickly to increase support for the Financial Crimes Enforcement Network, the bureau of Treasury responsible for implementing some of the most significant updates to U.S. anti-money laundering laws in decades.
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.
