NEW: @FSCDems & @RepMikeQuigley released their FY22 approps bill, to be marked up soon.
Includes the $191 million for FinCEN requested by Biden, a 50% boost.
This is great news—would be Congress’s strongest anti-corruption appropriation this year! 👏🏼👏🏼👏🏼 docs.house.gov/meetings/AP/AP…
Includes the $191 million for FinCEN requested by Biden, a 50% boost.
This is great news—would be Congress’s strongest anti-corruption appropriation this year! 👏🏼👏🏼👏🏼 docs.house.gov/meetings/AP/AP…
Credit also goes to @RepSpanberger, @RepAnnWagner, @RepMalinowski, @RepAGonzalez, & 34 others who urged appropriators to "significantly increase funding for FinCEN for FY22 ... to cost-effectively combat the illicit financial transactions that [threaten] U.S. national security."
If anything, the House approps markup and Senate process should push the number even higher. Gary Kalman and I argue in @ForeignPolicy to keep it simple and follow Rep. Charlie Wilson's famous order about funding CIA operations in Afghanistan: "Double it." foreignpolicy.com/2021/04/01/fin…
To illustrate how key and underutilized FinCEN is to Treasury’s anti-corruption mission, note that my research providing a whole-of-Treasury strategy only mentions OFAC (issuing sanctions) 16 times but refers to FinCEN (spotting financial crime) 110 times. securingdemocracy.gmfus.org/treasurys-war-…
FinCEN was woefully underfunded—running on too few bodies and computers from the 1980s—even before the NDAA tasked them with building a beneficial ownership registry and *50* other mandates, so now they’ve had to put everything optional on hold, a grave national security danger.
So, kudos to @FSCDems and @RepMikeQuigley, and now let’s make sure House appropriators and Senators see this through! 👏🏼👏🏼👏🏼
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