Treasury begins accepting ownership information reports under the Corporate Transparency Act, the Foreign Extortion Prevention Act is signed into law, and the Biden Administration provides an update on long-awaited AML reforms for real estate and private investment markets.
It is imperative both for the U.S. to get its own affairs in order, as well as for the world to prioritize environmental crimes within the framework of the UNCAC. By leveraging its influence, the U.S. has the power to shape and bolster global efforts aimed at combating corruption by tackling environmental crimes.
New regulations tackling money laundering in the titanic U.S. real estate and private investment sectors are now expected in early 2024, per a fact sheet released by Treasury on the first day of this week’s UN anti-corruption conference in Atlanta.
FACT Policy Fellow Sofia Gonzalez interviewed Vivian Calderoni, Program and Research Coordinator at the Igarapé Institute, on the Institute’s work at the intersection of environmental and financial crime in Latin America.
New York State passes legislation to implement the nation’s first public beneficial ownership registry, Australia delays groundbreaking tax transparency measures, and recent global fora highlight the need for new measures to curb illicit finance.
Vulnerabilities in commercial real estate markets recently identified by FinCEN only further reinforce the need for comprehensive regulatory action to address money laundering through U.S. real estate.
