Today, Sens. Whitehouse (D-RI) and Grassley (R-IA), published a letter signed by 23 bipartisan Senators addressed to congressional appropriators to urge increased funding for the Financial Crimes Enforcement Network (FinCEN).
FACT’s statement to House Financial Services outlines priorities for implementing beneficial ownership reform and strengthening anti-money laundering rules
In response to President Biden’s 2023 proposed budget, the FACT Coalition welcomed substantial increases in funding for the Financial Crimes Enforcement Network (FinCEN) and Office of Terrorism and Financial Intelligence (TFI).
In light of new sanctions against Russia, the FACT Coalition urged Congress to approve $118.2 million in emergency and discretionary funding this week for the U.S. Treasury Department’s Financial Crimes Enforcement Network and Office of Terrorism and Financial Intelligence.
Inadequate funding for the U.S. Financial Crimes Enforcement Network (FinCEN) and the Office of Terrorism and Financial Intelligence (TFI) jeopardizes the enforcement of new U.S. sanctions in light of President Putin’s unlawful invasion of Ukraine.
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.
