Read FACT’s official statement for the record on a House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions hearing on”Evaluating the Financial Crimes Enforcement Network.”
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.
Read FACT’s statement for the record outlining the urgent need for additional funding and support for the Financial Crimes Enforcement Network, the Bureau of Treasury tasked with implementing the landmark Corporate Transparency Act.
Today, Elizabeth Rosenberg, Assistant Secretary for Terrorist Financing and Financial Crimes at the U.S. Department of the Treasury, and Andrew Adams, Director of the Task Force KleptoCapture at the Department of Justice, testified before the Senate Committee on Banking, Housing, and Urban Affairs on steps the Administration is taking in response to Russia’s invasion of Ukraine.
The FACT Coalition sent a letter today to the Financial Crimes Enforcement Network (FinCEN) urging the agency to act quickly to implement the secure directory of beneficial owners of U.S. entities under the Corporate Transparency Act (CTA) and, in doing so, to adopt a set of internationally recognized best data practices.
In light of new sanctions against Russia, the FACT Coalition urged Congress to approve $118.2 million in emergency and discretionary funding this week for the U.S. Treasury Department’s Financial Crimes Enforcement Network and Office of Terrorism and Financial Intelligence.
