FACT Submits Statement for Key FinCEN Oversight Hearing
FACT’s statement to House Financial Services outlines priorities for implementing beneficial ownership reform and strengthening anti-money laundering rules
Lawmakers, Civil Society, and States Look for Faster Pace on Beneficial Ownership Reform: April 26
This month, Treasury Secretary Yellen appeared before the House Financial Services Committee and responded to concerns over the Corporate Transparency Act’s (CTA) delayed implementation. In her answer, Yellen assured lawmakers that the second of the CTA’s three required rulemakings would be drafted “this year, in the coming months.”
FACT Urges Critical Transparency Measures for Trusts in Testimony Before Alaska’s Legislature
FACT Policy Director testified before Alaska’s legislature on the harmful impact of the “secrecy rat-race” between states and how Alaska could help to lead the way to transparency.
The Russian Invasion of Ukraine: Just the FACTs: March 21
Reforms advocated for by FACT, including those pertaining to beneficial ownership of anonymous shell entities, removing opacity from the U.S. real estate, private investment, and other luxury goods markets, and promoting greater tax transparency can bring the economic weight of new sanctions to bear. The U.S. must work expediently with its allies to permanently close financial gateways for Russia’s political elite to hide and grow their illicit wealth.
Zelenskyy Address to Congress Highlights US Shortcomings in Fight Against Illicit Finance
The tools that Congress and the White House commit to Ukraine’s fight for independence and democracy must not be undermined by failings in our own institutions.
Targeted Sanctions toward Russian Oligarchs Underscore Urgency of U.S. Anti-Money Laundering Reforms
While the White House considers and implements immediate actions to aid Ukraine, it must also pursue structural U.S. anti-money laundering reforms to increase the effectiveness of targeted U.S. sanctions and to end the weaponization of U.S. legal and financial systems against democratic and open societies.