Press Coverage

San Francisco Standard: Senate Rejects Bill To Curb Money Laundering in Silicon Valley

FACT Government Affairs Director Erica Hanichak is quoted in the San Francisco Standard:

Erica Hanichak, government affairs director at the FACT Coalition, which supported the Enablers Act, told The Standard that Russia’s invasion of Ukraine in February 2022 has been a “brutal, but important wakeup call” for both the U.S. government and public to recognize how illicit funds make their way into the United States.

The Russian political system is riddled with corruption, and top officials’ access to state resources is believed to buttress Putin’s grip on power.

“If Congress truly believes in starving Russia’s oligarchs of the funds they use to undermine global democracy, then it must match the White House’s commitment to revamping the U.S. anti-money laundering framework and pass the Enablers Act by the end of the year,” she said after the Enablers Act was removed from the Senate NDAA.

The full, original article is accessible on the San Francisco Standard’s website here.