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.
Before Senate Caucus on International Narcotics Caucus, FACT Calls for Stronger Anti-Money Laundering Safeguards Against Narcotics Financing
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.
Corporate Transparency Act’s Draft Rule Applauded by FACT Coalition
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)
Financial Secrecy Feeds Kleptocracy and Environmental Destruction. Now is the Time for the U.S. and the World to Act on Beneficial Ownership Reform
Operating in financial secrecy, bad actors are free to profit from environmental degradation, and in doing so undermine the global fight against climate change. As global leaders make new commitments this week at COP26, it’s time that politicians promise to shine a light on global financial secrecy, particularly the use of anonymous shell companies, as a crucial climate reform.
31 Civil Society Organizations Send Letter to FinCEN in Support of Strong Beneficial Ownership Implementation
31 Civil Society Organizations Send Letter to FinCEN in Support of Strong Beneficial Ownership Implementation
Massive “Pandora Papers” Financial Secrecy Leaks Highlight Need for U.S. Reforms
The International Consortium of Investigative Journalists, along with major news outlets such as the Washington Post, yesterday revealed the largest leak of private financial records to date, eclipsing the Panama Papers in scope and scale. The “Pandora Papers” confirm the use of a secretive “offshore” financial system that allows criminals, world leaders, and others to hide billions of dollars from authorities, fueling tax dodging and corruption.