Read FACT’s official statement for the record highlighting the critical work of Treasury’s Financial Crimes Enforcement Network, including its ongoing efforts to implement the Corporate Transparency Act and finalize strong rules curbing money laundering through U.S. real estate and private investment markets.
In January, FACT, TI-US, and GFI held a press briefing detailing the Coalition’s main policy areas to watch in 2024, including imminent actions by Treasury addressing money laundering risks through U.S. real estate and private investment markets, as well as new work at the intersection of environmental and financial crime.
The OECD/G20 Inclusive Framework Multilateral Convention to Implement Amount A of Pillar One represents a historic and long overdue step to allow greater taxing rights for destination countries, as well as a potential source of expanded US public revenues.
FACT recommends that the FATF employ stronger language to encourage countries to establish enhanced beneficial ownership reporting standards for trusts and other under-regulated entities.
Read FACT’s official comment urging global governments to strengthen existing systems and multilateral cooperation on beneficial ownership transparency ahead of the 10th Conference of State Parties to the UN Convention Against Corruption.
61 labor and advocacy organizations are calling on Congress to pass the No Tax Breaks for Outsourcing Act, which levels the playing field for American small businesses by removing incentives in the tax code that reward major multinationals for offshoring and profit shifting.