On October 6, following the release of the first final rule to implement the landmark Corporate Transparency Act, the FACT Coalition hosted a private civil society roundtable conversation with senior Treasury Department officials to discuss progress in improving and strengthening U.S. anti-money laundering and anti-corruption safeguards.
With a robust first rulemaking on the landmark Corporate Transparency Act (CTA), the Biden Administration has taken an important step toward delivering on its commitment to making the fight against corruption a foremost national security priority.
Today, Congress passed a continuing resolution to fund the U.S. government through December 16, which now awaits President Biden’s signature. While the measure will ensure that agencies can continue operations at existing budgetary levels, the resolution puts off approving the increased funding for key offices in the U.S. Treasury Department contemplated in both chambers’ appropriations bills for fiscal year 2023.
Today, the Financial Accountability and Corporate Transparency (FACT) Coalition welcomes the Treasury Department’s release of the first final rule to implement the landmark Corporate Transparency Act (CTA), and urges the Treasury Department to accelerate the remaining rulemaking processes as necessary to fully implement this ground-breaking anti-money laundering reform.
The Sentry’s report points to major ways the international community must act to deny kleptocrats the “brain trust” on which they rely to perpetrate their crimes. It’s up to the U.S. to be a leader, not a laggard, in implementing a robust anti-money laundering regime.
New Sentry Report Details how Bankers, Lawyers, and Accountants Enable Global Corruption Networks: “The Enablers Fueling Global Corruption and Building Violent Kleptocracies.”
