FACT Government Affairs Director Erica Hanichak spoke before the Senate Caucus on International Narcotics Control on ways legislators can deny drug traffickers and the corrupt officials they work with access to the U.S. financial system.
While the White House considers and implements immediate actions to aid Ukraine, it must also pursue structural U.S. anti-money laundering reforms to increase the effectiveness of targeted U.S. sanctions and to end the weaponization of U.S. legal and financial systems against democratic and open societies.
The FACT Coalition welcomed the White House announcement of a “multilateral Transatlantic task force” to identify and freeze the assets of sanctioned Russian companies and oligarchs.
The Financial Accountability and Corporate Transparency (FACT) Coalition submitted detailed comments yesterday in response to the Treasury Department’s call for public input on a draft rule to implement the Corporate Transparency Act (CTA)
Congress should approve a budget that meets the administration’s request to increase FinCEN’s resources to $191 million to enable the agency to minimize the U.S. role in global corruption, both by modernizing the U.S. anti-money laundering framework and by implementing the landmark Corporate Transparency Act
While the world – and our country – faced many intersecting challenges, we’ve had a banner year of campaigning success. Beyond policy wins, we’ve helped change the narrative to argue that corruption and tax avoidance are major threats to democratic societies. None of this would have been possible without the collaboration of our members, allies, funders, and friends.
