Thread by @JoshRudes

"FinCEN is tasked with building a massive database that collects and secures beneficial ownership information, but Congress has not yet provided any funding to do it."

You tell 'em, @SecYellen! 👏👏👏

https://twitter.com/USTreasury/status/1407762913373396998

Dramatically increasing funding for the Financial Crimes Enforcement Network (FinCEN) is by far the single most important thing Congress can do this year to fight corruption.

Here's a letter from @RepSpanberger, @RepAnnWagner, @RepMalinowski, @RepAGonzalez, and 34 others urging appropriators to "significantly increase funding for FinCEN for FY22 ... to cost-effectively combat the illicit financial transactions that [threaten] U.S. national security."

And here's the Biden administration's request for a 50 percent increase in FinCEN's budget.

That's good, but FinCEN needs more than a 50 percent increase. Here's my article with Gary Kalman of @transparencyUSA laying out the national security argument for doubling FinCEN's budget. foreignpolicy.com/2021/04/01/fin…

Last December, I proposed 22 ways FinCEN could fight corruption and kleptocracy. They haven't gotten to essentially any of this, b/c the NDAA gave them literally 50 new mandates and no additional resources, so anything optional is on hold. Fund FinCEN now! securingdemocracy.gmfus.org/treasurys-war-…