Move Comes as Lawmakers Consider Dropping Important Anti-Money Laundering Section from Legislation
WASHINGTON, D.C. — Delaware’s top government official overseeing company formation in the state endorsed a bipartisan federal proposal to require companies to disclose their true owners at the time of formation in new a new letter to Congress.
WASHINGTON, D.C. — Lawmakers in the United Kingdom voted Tuesday to require their offshore territories to establish systems by 2020 mandating companies to disclose their true owners at the time of formation. The new rules, which will bring transparency to companies formed in notorious secrecy jurisdictions such as the Cayman Islands, Bermuda, and the British Virgin Islands, were welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.
Gary Kalman, the executive director of the Financial Accountability and Corporate Transparency (FACT) Coalition, testified in front of the U.S. House of Representatives Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit on Friday, April 27, 2018 at a hearing regarding the implementation of the Financial Crimes Enforcement Network’s (FinCEN) rule on Customer Due Diligence Requirements for Financial Institutions.
Our 2016 report, Anonymity Overdose, charted the connection between the opioid epidemic and the problem of anonymous shell companies.
As Congress ramps up funding for the national response to this crisis (though not at the levels some had hoped for), we wanted to provide an update on how the opioid trafficking operations are changing, and why ending anonymous shell companies is still an incredibly low-cost, bipartisan approach to help take on the opioid crisis.
Former Treasury Agent Urges Authorities to Target the Drivers of Human Trafficking, Drug Smuggling, and Corruption
Ending Anonymous Companies; Trade Transparency Units; Holding Gatekeepers Accountable Among Policy Recommendations
WASHINGTON, D.C. – Worldwide anti-money laundering efforts are currently just a decimal point away from total failure, according to a new report published Tuesday by the FACT Coalition.
Statement by the FACT Coalition on Treasury Department Decision to Renew and Expand Geographic Targeting Orders to Identify Buyers in Luxury Real Estate
WASHINGTON, D.C. – The Financial Crimes Enforcement Network (FinCEN), a branch of the U.S. Treasury Department, announced Tuesday that it was renewing and expanding its temporary orders seeking to uncover illicit activity in the luxury real estate sector.
