Illicit Financial Flows | Page 5

‘The Ugliest Chapter Since Slavery’: How Illicit Financial Flows Thwart Human Rights in Africa

December 12, 2018

The Universal Declaration of Human Rights turned 70 on December 10. Governments and civil society organizations around the world commemorated the day with a range of activities.

Over the years, the Declaration has been a global beacon for Africans fighting against colonialism and for inclusive economic equality and sustainable development. Its provisions stand as aspirational goals for nations, and standards that nations are duty-bound to uphold and promote.

But what if despite your country’s commitment to uphold these and other fundamental freedoms, every year it was robbed of the financial resources necessary to promote and protect rights?

Tracking Illicit Russian Financial Flows

April 18, 2018

Trillions of dollars in capital flows into the United States annually, and trillions of dollars in payments are cleared through New York daily. No one knows exactly whom the funds belong to, where they are held, or how they are deployed. No one knows because the U.S. government does not track the money — but it could if it wanted to. What is known is that Russia, other countries of the Commonwealth of Independent States, and China are the primary drivers of non-transparent capital flows worldwide.

New Report: Anti-Money Laundering Efforts Near Failure

August 23, 2017

Former Treasury Agent Urges Authorities to Target the Drivers of Human Trafficking, Drug Smuggling, and Corruption
Ending Anonymous Companies; Trade Transparency Units; Holding Gatekeepers Accountable Among Policy Recommendations
WASHINGTON, D.C. – Worldwide anti-money laundering efforts are currently just a decimal point away from total failure, according to a new report published Tuesday by the FACT Coalition.

Just the FACTS: July 27, 2017

July 27, 2017

Over the past several decades, anonymous shell companies have been at the heart of heinous crimes, including cases of grand corruption, human trafficking, and even the facilitation of the opioid epidemic. Didier Jacobs of Oxfam America highlighted some of the blights of anonymous companies in a recent blog. In it, he describes how drug lords, corrupt politicians, and human traffickers are able to perform illegal acts while hidden from justice by a veil of anonymity. With shielded identities, criminals can effectively function above the law.

Joint Letter from 44 Organizations Supporting the Corporate Transparency Act (H.R. 3089)

June 28, 2017

The FACT Coalition joined 43 other organizations to send a letter to Reps. Maloney, King, Royce, Waters, and Moore supporting the Corporate Transparency Act (H.R. 3089), which would enable law enforcement to more effectively and efficiently conduct investigations, enhancing safety by saving time and resources in pursuing complex money laundering operations. The full letter can be read below or downloaded here.

Bipartisan Bills Target Criminal Money Laundering, Terror Financing

June 28, 2017

Transparency Measures Have Broad Support from Financial Institutions, Law Enforcement, and Anti-Corruption Advocates
WASHINGTON, D.C. – Bipartisan pieces of legislation introduced on June 28, 2017 aim to crack down on one of the prime enablers of criminal money laundering and terrorist financing — the abuse of anonymous shell companies.