The FACT Coalition submitted comments yesterday recommending that the Treasury Department address critical weaknesses in its proposed rule detailing access protocols for the new beneficial ownership information directory to be established under the Corporate Transparency Act.
The FACT Coalition welcomes today’s release by the Department of the Treasury of the second draft rule – this time, defining directory access protocols – necessary to implement the landmark Corporate Transparency Act.
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.
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.
The FACT Coalition offers advice to the Financial Action Task Force as a part of their public consultation on Recommendation 25.
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.
