Read FACT’s official statement for the record highlighting the critical work of Treasury’s Financial Crimes Enforcement Network, including its ongoing efforts to implement the Corporate Transparency Act and finalize strong rules curbing money laundering through U.S. real estate and private investment markets.
FACT applauds the reintroduction of the FOREST Act, which would add illegal deforestation as a specified unlawful activity, or “predicate offense” for money laundering, empowering U.S. law enforcement to better track down and combat environmental crime.
Also this week: a new blog by FACT government affairs director Erica Hanichak, and a great upcoming panel discussion cohosted by FACT, GATJ, and the Nawi Collective.
The Disclosure of Tax Havens and Offshoring Act would shine a light on the abuse of offshore tax havens by requiring multinational corporations to publicly report overseas tax and operational data on a country-by-country basis.
Congress unveiled its long-negotiated omnibus spending bill to fund the federal government for fiscal year 2023, which includes $190.2 million for the Financial Crimes Enforcement Network (FinCEN).
“ENABLERS would help ensure that corrupt cash doesn’t make it into our country and our markets in the first place. If the ENABLERS Act passes, Congress will have led a sea-change in American anti-corruption law.”