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.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent 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.
This FACT sheet outlines the devastating impact of financial secrecy on Africa, Latin America, and communities of color in the United States.
The FACT Coalition sent the attached letter to U.S. Treasury Secretary Jack Lew on July 14, 2014 ahead of the Third Financing for Development Conference in Addis Ababa, Ethiopia.
