Beneficial Ownership | Page 9 | The FACT Coalition

Massive “Pandora Papers” Financial Secrecy Leaks Highlight Need for U.S. Reforms

October 4, 2021

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.

To Help Improve Access to Affordable and Quality Housing, Pull Back the Veil on Anonymous Real Estate Purchases

September 30, 2021

The Treasury Department, in parallel with state and municipal actors, should implement permanent reforms to pull back the veil on the anonymous purchase of U.S. real estate to fight money laundering and corruption and, as a result, cultivate fairer housing markets here at home..

An Impressively Broad Coalition Just Did Something Big to Combat Money Laundering

January 15, 2021

Particularly in the wake of the tumultuous events of last week, it feels as though America’s divisions are so deep that our government cannot take meaningful action. However, there have been recent moments of successful bipartisan cooperation that deserve celebration.

Stop Corruption: End Anonymous Companies

December 9, 2020

On the eve of International Anti-Corruption Day, the U.S. House of Representatives passed an historic measure to end anonymous companies by a veto-proof margin. The Corporate Transparency Act, included in the annual “must-pass” defense bill known as the National Defense Authorization Act, is expected to become law before the end of the year. As we mark International Anti-Corruption Day, this significant step forward for the U.S., which has historically lagged behind other nations–hopefully ushers in a new era of U.S. leadership on transparency and anti-corruption.

FACT Letter Supports Passing Beneficial Ownership (Title LXIV) in the NDAA

December 8, 2020

FACT sent a letter on the eve of the final NDAA vote urging to congressional leaders to pass beneficial ownership reforms before the end of the year.

Real Estate Associations Back NDAA Path to End Anonymous Companies

October 16, 2020

Real estate associations sent a letter to the Senate and House Armed Services Committees, urging members to take up legislation ending anonymous companies in the must-pass National Defense Authorization Act.