FACT Sends Comments to Curb the Misuse of Trusts and Other Legal Arrangements – FATF Recommendation 25
The FACT Coalition offers advice to the Financial Action Task Force as a part of their public consultation on Recommendation 25.
Strategic Collaborations: Addressing the U.S. Role as a Destination for Illicit Finances from Africa
To tackle global corruption, the U.S. must start by cleaning up its own house through the reforms discussed in this blog, as well as by working collaboratively with African nations, civil society actors, and professionals to properly stem the root causes and key loopholes that enable capital flight, illicit financial flows, and corrupt or criminal financial abuses.
House Approves Bipartisan Act to Rein In the Enablers of Corruption
Yesterday, the U.S. House of Representatives approved as part of the must-pass defense spending bill the “ENABLERS” Act. The Act requires certain professional service providers that are best positioned to act as “gatekeepers” to the U.S. financial system to adopt common sense anti-money laundering procedures that can help detect, flag, and prevent the laundering of corrupt and other criminal funds into the United States.
Congress Takes Bold Step to Crack Down on Money Laundering and Global Corruption
The Financial Accountability and Corporate Transparency (FACT) Coalition applauds the House Armed Services Committee for voting today to include the ENABLERS Act in the House version of the annual defense bill, known as the National Defense Authorization Act for Fiscal Year 2023 (the NDAA).
#KleptoMonth 2 Brings Fresh Opportunities to Tackle Persistent Corruption Problems: Just the FACTs: June 21
Bad actors beware – it’s #KleptoMonth again in Washington, D.C. In their announcement last Friday, the bipartisan leadership of the Congressional Caucus against Foreign Corruption and Kleptocracy (CAFCAK) joined dozens of civil society activists, the FACT Coalition among them, in calling for the rest of Congress to take action.
FACT Submits Testimony to Senate Appropriations Subcommittee Calling for Greater FinCEN Funding
FACT Testimony to Senate Appropriation’s Subcommittee on Financial Services and General Government Emphasizes Need for FinCEN Funding