FCG News

Updates about FCG and its projects

June 22 Book Launch: “Butler(s) to the World” – Ending Dirty Money in the UK and US

On the occasion of the U.S. publication of investigative journalist Oliver Bullough’s latest book, Butler to the World: How Britain Helps the World’s Worst People Launder Money, Commit Crimes, and Get Away with Anything, join the Financial Accountability and Corporate Transparency (FACT) Coalition, legislators from the U.S. and U.K., and advocates to discuss the problems caused by dirty money in the U.K. and U.S. and how to foster transatlantic competition to crack down on dirty money in both jurisdictions.

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The impact of beneficial ownership transparency on illicit purchases of US property

High value real estate is a popular destination for corrupt and criminal foreign assets, in part due to limited oversight and lack of transparency in real estate transactions. In response to these concerns, the US Treasury began implementing a series of Geographic Targeting Orders (GTOs) in 2016, forcing corporate buyers making all-cash purchases in targeted counties to report the company’s ultimate owner. To estimate the causal effect of GTOs on these types of transactions, we combine data on millions of real estate transactions over the period 2014-2019 with a staggered difference-in-differences design.

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