10 Human Rights Orgs Urge US to Pass Law to Stem Corruption, Promote Rights
10 prominent Human Rights organizations sent a letter to Congress urging them to support beneficial ownership transparency.
How Rogue Nations & Sanctioned Groups Use Shell Companies
Testimony, reports, and independent assessments all find that anonymous companies are a threat to global peace and security and undermine our ability to keep dangerous actors from accessing our financial system.
Letter to U.S. Treasury Secretary Steven Mnuchin Urging Continued Support of Beneficial Ownership Disclosure
The FACT Coalition sent a letter to Treasury Secretary Steven Mnuchin urging support of beneficial ownership disclosure. The full letter can be read below or downloaded here.
The Downside of Boston’s Luxury Building Boom
Boston is being transformed by a luxury housing boom. A decade from now, the city’s skyline and population demographics will be fundamentally altered by decisions being made today.
This boom has clear benefits, providing jobs in the building trades and increasing property tax revenue for the city. And the city has negotiated for affordable housing set-aside or linkage funds from some projects. But the boom is not doing enough to address Boston’s acute affordable housing crisis and will accelerate economic inequality in the city.
Perilous Position: The U.S. Must Strengthen Transparency Laws for the Sake of National Security
These past few months, the fight against illicit finance received excellent news — the U.K. Government moved to require their Overseas Territories to disclose the real owners of companies they incorporate. Those territories include tax haven A-listers like Bermuda, the Cayman Islands, and the British Virgin Islands. These critical legislative actions taken by the British Government should similarly be adopted by the U.S. Congress — lest America risk becoming the favorite haven for dirty money.
The Miami Herald: Crackdown on dirty money shook Miami real estate. Now, Rubio wants to take it national
In a move with significant implications for the U.S. housing market, Florida Republican Sen. Marco Rubio is seeking to take a Treasury Department crackdown on dirty money in luxury real estate and expand it from a few high-priced enclaves to the entire nation.
Rubio says his proposal is an attempt to root out criminals who use illicit funds and anonymous shell companies to buy homes — a form of money laundering that hides the cash’s tainted origin from law enforcement and banks. The widespread practice enables terrorism, sex trafficking, corruption, and drug dealing by providing an outlet for dirty cash, according to transparency advocates.