While major progress has been made in 2024 on key anti-money laundering priorities, more work is needed to counter corruption and ensure government integrity and accountability to the public.
Read the new letter from FACT and Transparency International U.S. urging Treasury to meet its statutory deadline for important aligning regulations required under the Corporate Transparency Act.
FACT applauds the Senate Appropriations Committee’s new bill expanding funding for the nation’s primary financial intelligence unit, the Financial Crimes Enforcement Network, by more than $25 million.
The Court of Appeals must find the Corporate Transparency Act constitutional and allow this long overdue U.S. financial reform to continue to be fully implemented. If not, the Court will give a free pass to fentanyl traffickers, tax evaders, and U.S. adversaries to abuse the opacity of the U.S. financial system.
FACT submitted a statement for the record in the April 30 House Small Business Committee hearing, “Under the Microscope: Examining FinCEN’s Implementation of the Corporate Transparency Act.”
Read FACT government affairs director Erica Hanichak’s testimony before the Senate Drug Caucus, which highlights the importance of beneficial ownership transparency toward detecting and dismantling drug trafficking networks.
