Entity
Description
  • Value proposition

    Promoting policies to combat the harmful impacts of corrupt financial practices.

    The Financial Accountability & Corporate Transparency (FACT) Coalition is a nonpartisan alliance of over 100 state, national, and global groups working toward a fair tax system that addresses the challenges of a global economy and promoting policies to combat the harmful impact of corrupt financial practices.

    Our Goals
    * End the use of anonymous shell companies as vehicles for illicit activity;
    * Strengthen, standardize, and enforce anti-money laundering laws;
    * Require greater transparency from multinational corporations to promote informed tax policy;
    * Ensure that the US constructively engages in global financial transparency initiatives; and
    * Eliminate loopholes that allow companies and individuals to offshore income and avoid paying their fair share of taxes.

    Why It Matters
    There's untold wealth hidden in secrecy jurisdictions worldwide. The wealth-stripping from corrupt practices and regimes, illegal activity, and legal-but-ethically-bankrupt tax avoidance schemes is larger than most can imagine. Because of the secret nature of the financial flows, it's impossible to know exactly the amount of money, but estimates range from $7.6 trillion to $32 trillion stashed in secrecy jurisdictions.

    More than $2.4tr is currently stashed offshore by Fortune 500 companies, costing taxpayers nearly $700bn. Indeed, the annual cost of offshore tax avoidance by multinational companies is $94 billion to $135bn, while overseas tax evasion by individuals drains an additional $40bn to $70bn each year from the public.

    We seek a larger conversation about how certain interests manipulate the tax system and undermine our ability to act collectively to solve problems. The secrecy, in particular, allows certain entities to play by a different set of rules than the rest of us. Globally, the secrecy facilitates corruption and impoverishes poor countries. In the US, we are complicit in the draining of wealth of other nations and fueling the austerity movement in our own.

    Tax Havens, Anonymous Companies, Anti-Money Laundering, Transparency, Accountability, Good Governance, Tax Evasion and Avoidance, Beneficial Ownership Transparency, Tax Transparency, and Country-by-Country Reporting

  • The FACT Coalition

    The FACT Coalition fights offshore tax abuses, promotes transparency in corporate ownership and operations, and advocates anti-money laundering policies.

  • https://thefactcoalition.org/
Corporate interactions BETA
Corporate TypeTweets Articles
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FACT Coalition
2 months, 2 weeks ago 3

NEW - FACT Coalition joins African activists in the Stop the Bleeding campaign to call on the U.S. and African governments to forge a new partnership to tackle illicit financial flows which drain the continent of billions of dollars every year. This issue should be at the center of the U.S.-Africa Leaders Summit next week. #anticorruption #moneylaundering #tax #africa https://lnkd.in/eJbEXzdz

FACT Coalition
2 months, 2 weeks ago 1

NEW: FACT Coalition executive director Ian Gary tells Voice of America that the U.S.-Africa Leaders Summit must tackle the illicit financial flows draining $88 billion from the continent every year. https://lnkd.in/d97RkXvA

FACT Coalition
3 months, 2 weeks ago 4

NEW: Bipartisan support for the ENABLERS Act is surging. Read why so many groups support Congressional action to crack down on money laundering in our latest newsletter. https://lnkd.in/eVU8w8DF

FACT Coalition
5 months ago 1

A big FACT Coalition welcome to two new members, the Environmental Investigation Agency and the Wildlife Justice Commission. The membership of these two groups has grown out of FACT's exploratory work to understand the links between environmental crimes, financial crimes, and illicit finance, and to look at new collaborations to address reforms at this intersection. #environmentalcrimes #moneylaundering #corruption https://lnkd.in/ea_x-e4T

FACT Coalition
5 months, 2 weeks ago 7

Treasury Department Takes Important Step Towards Affirming U.S. Leadership on Combating Global Money Laundering and Corruption #corruption #moneylaundering #treasury
https://lnkd.in/eVuQYjGN

Social network dynamics