The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to the Senate Committee on the Judiciary in support of the Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2019. The full letter can be read below or downloaded here.
On June 11th, the Credit Union National Association (CUNA) wrote a letter to Patrick McHenry and Maxine Waters of the House Financial Services Committee in order to express support for the Corporate Transparency Act.
On Tuesday April 2, FACT’s Executive Director joined a panel discussion hosted by the Harriman Institute at Columbia University. The panel discussed the expansion of anti-corruption enforcement in the U.S., as well as the challenges of researching oligarchs and recent developments in anti-corruption work.
Move Comes as Lawmakers Consider Dropping Important Anti-Money Laundering Section from Legislation
WASHINGTON, D.C. — Delaware’s top government official overseeing company formation in the state endorsed a bipartisan federal proposal to require companies to disclose their true owners at the time of formation in new a new letter to Congress.
WASHINGTON, D.C. — Lawmakers in the United Kingdom voted Tuesday to require their offshore territories to establish systems by 2020 mandating companies to disclose their true owners at the time of formation. The new rules, which will bring transparency to companies formed in notorious secrecy jurisdictions such as the Cayman Islands, Bermuda, and the British Virgin Islands, were welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.
Our 2016 report, Anonymity Overdose, charted the connection between the opioid epidemic and the problem of anonymous shell companies.
As Congress ramps up funding for the national response to this crisis (though not at the levels some had hoped for), we wanted to provide an update on how the opioid trafficking operations are changing, and why ending anonymous shell companies is still an incredibly low-cost, bipartisan approach to help take on the opioid crisis.
