Corporate Transparency Act | Page 8

U.S. Must Address Its Own Credibility Gap to Be a Leader on Combating Corruption and Ensuring Resources for UN Sustainable Development Goals

September 20, 2022

As world leaders gather this week in New York for the United Nations General Assembly (UNGA), an epidemic of offshore wealth looms large over efforts to safeguard a turbulent post-pandemic world. Faced with myriad unpredictable crises, ranging from historic floods and droughts to widespread food scarcity and brewing recessionary fears, governments around the world are facing a need to raise revenues to stave off disasters and have a chance to meet the UN’s Sustainable Development Goals.

Treasury Testimony Underscores Need for U.S. Action to Shut the Door on Illicit Russian Funds

September 20, 2022

Today, Elizabeth Rosenberg, Assistant Secretary for Terrorist Financing and Financial Crimes at the U.S. Department of the Treasury, and Andrew Adams, Director of the Task Force KleptoCapture at the Department of Justice, testified before the Senate Committee on Banking, Housing, and Urban Affairs on steps the Administration is taking in response to Russia’s invasion of Ukraine.

House Passes Bill to Boost Budget of Nation’s Financial Crime Fighters

July 20, 2022

Today, the House of Representatives passed a six-bill appropriations package (H.R. 8294) for fiscal year 2023 that includes $210.33 million for the Financial Crimes Enforcement Network (FinCEN).

Summit Anti-Corruption Commitments Must Include U.S. Domestic Anti-Money Laundering Reforms

June 9, 2022

The Financial Accountability and Corporate Transparency (FACT) Coalition today reiterated the need for substantive U.S. leadership on key anti-corruption and financial transparency reforms after the opening speech by President Biden last night. Among the Summit’s themes is the reaffirmation of still unfulfilled anti-corruption commitments from the previous Summit of the Americas in Lima, Peru.

Addressing Capital Flight from Africa is a Global Task

June 2, 2022

Africa loses significantly more cash to capital flight than it obtains from development aid, external borrowing, or foreign direct investment. In a real sense, Africa is a “net creditor” to the rest of the world.

Financial Secrecy Index 2022 Launch

May 17, 2022

Rep. Carolyn Maloney joined FACT and the Tax Justice Network in discussing the launch of the 2022 Financial Secrecy Index and what it means for the U.S. transparency agenda