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For Immediate Release
September, 21 2020, 12:00am EDT
Contact:
Clark Gascoigne, cgascoigne@thefactcoalition.org
FinCEN Files Highlight Need to Overhaul and Prioritize Dirty Money Fight
Statement by Clark Gascoigne, Interim Executive Director of the FACT Coalition
WASHINGTON
A new investigation published Sunday by a global network of news outlets reveals major flaws in U.S. anti-money laundering safeguards. Dubbed the "FinCEN Files," the latest expose from the International Consortium of Investigative Journalists (ICIJ) and Buzzfeed News spotlights trillions of dollars in dirty money flowing freely through major U.S. and international banks, with few repercussions for bad actors but serious ramifications for national security and public safety.
Clark Gascoigne, interim executive director of the FACT Coalition, issued the following statement:
"Nearly every national security and public safety threat that we face -- from terror financing and sanctions evasion to the opioid crisis and human trafficking -- is either motivated or facilitated by money. The FinCEN Files reveal that the system we've established to follow that money is broken.
"It's time to overhaul our anti-money laundering system and prioritize the fight against illicit finance. That begins this fall by enacting bipartisan legislation to end the incorporation of anonymous shell companies in the National Defense Authorization Act. But we must go farther, by exponentially increasing the staff and resources devoted to FinCEN, overhauling safeguards in the correspondent banking system, expanding anti-money laundering requirements to other gatekeepers to the financial system, and holding individual leaders at financial institutions personally accountable for facilitating financial crimes."
The Financial Accountability and Corporate Transparency (FACT) Coalition is a non-partisan alliance of more than 100 state, national, and international organizations working toward a fair tax system that addresses the challenges of a global economy and promoting policies to combat the harmful impacts of corrupt financial practices.
(202) 827-6401LATEST NEWS
California Voters Pass Prop 50, Punching Back at Trump in Gerrymandering Fight
"The blowout showed how showing up to fight is the most important thing in Democratic politics right now," wrote David Dayen at The American Prospect.
Nov 05, 2025
The people of California dealt a huge counterpunch to Republican efforts to gerrymander their way to a 2026 midterm victory, voting overwhelmingly on Tuesday for new congressional maps that are expected to net Democrats an additional five seats in the next US House elections.
Republicans have appeared on track to cling to power after President Donald Trump pushed red states to carry out largely unprecedented mid-decade redistricting efforts. New maps enacted or approved in Texas, Ohio, Missouri, and North Carolina were expected to net the GOP an extra nine seats that may have proven decisive in holding off a blue wave next November.
But on Tuesday, as Democrats romped up and down the ballot nationwide, more than 5.1 million California voters almost singlehandedly stymied the Republican advance in its tracks, passing Proposition 50 with nearly 64% of the vote, and approving new maps drawn up by Gov. Gavin Newsom and state Democrats with a more aggressive partisan gerrymander.
David Dayen, the executive editor of The American Prospect, wrote on social media that in one fell swoop, the Democrats "have largely neutralized Trump's gerrymandering push."
However, he noted that the GOP could grab a possibly insurmountable advantage if the US Supreme Court votes to gut Section 2 of the Voting Rights Act, effectively legalizing racial gerrymandering and, in the process, potentially netting Republicans at least 19 more seats.
Notably, California's maps only needed to be approved by voters in the first place to override those drawn up by the state's independent redistricting commission, which was also created by a ballot measure in 2008. Meanwhile, the new maps drawn in red states have been enacted by state legislatures without voter approval.
As the champion of Prop 50, Newsom argued that desperate times called for desperate measures, saying it was a necessary counter to Trump's "attempt to rig the 2026 election and redistrict his way out of accountability in states like Texas.”
On Tuesday night, after Prop 50's resounding passage, Newsom told a gathering of California Democrats in Sacramento that the party was "on its toes, no longer on its heels."
The passage of Prop 50 may give other blue states a shot in the arm to pursue their own mid-decade gerrymanders and further chip away at the GOP advantage.
New York Gov. Kathy Hochul has signaled her support for the state pursuing its own redistricting, and a constitutional amendment has been proposed to override the state's independent, bipartisan redistricting commission.
In Virginia, Democratic leaders have passed the first round of a constitutional amendment to give the legislature emergency powers to redraw maps, an effort that remained viable after Democrats held onto the state’s House of Delegates in Tuesday’s elections.
Earlier this week, Maryland Gov. Wes Moore also announced the creation of a new bipartisan commission to target the state's one remaining GOP district, though some Democrats have criticized the effort as a risky gambit that could backfire and benefit Republicans.
Regardless, Dayen believes that the result in California is a decisive indication of the more confrontational approach Democratic voters are looking for in the second Trump era.
"Prop 50 was called the moment polls closed in California," he wrote. "The blowout showed how showing up to fight is the most important thing in Democratic politics right now."
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'No, Not This Time': Combat Veteran Graham Platner Doesn't Mourn for Dick Cheney
"The only legacy we have to remember," said the Maine candidate for US Senate about the former vice president, "is that he wasted thousands of young American lives, hundreds of thousands of Iraqi lives, and trillions of dollars for absolutely nothing."
Nov 05, 2025
Graham Platner, the US combat veteran and oyster farmer running for the Democratic nomination to defeat Republican US Senator Susan Collins of Maine in next year's election, is not interested in mourning the life and legacy of reviled war criminal Dick Cheney, though he does have "some thoughts" on the subject.
While Democratic leaders of the old guard such as Barack Obama and Kamala Harris issued statements Tuesday fawning over Cheney's service to country, contributing to the familiar hagiography that typically follows the demise of even the worst American leaders the nation has inflicted on the world, Platner stuck a distinctly different tone.
"Usually, when a former vice president passes, we all take some time to mourn," Platner says in a video posted to social media Tuesday. "As a veteran of the Iraq war, I’m going to say: No, not this time."
Platner, who served in the US Marines and in the US Army during multiple combat tours in both Iraq and Afghanistan, pushed back against the pattern of whitewashing the misdeeds of the dead, especially for elected leaders never held to account.
"Over the next couple days, I'm sure there are going to be thousands of think pieces about his legacy," said Platner, "but the only legacy we have to remember is that he wasted thousands of young American lives, hundreds of thousands of Iraqi lives, and trillions of dollars for absolutely nothing."
Some thoughts on Dick Cheney and his legacy. pic.twitter.com/vY7S3nu2nt
— Graham Platner for Senate (@grahamformaine) November 4, 2025
"If we take anything" from Cheney's death, continued Platner, "it should be that we need to build a politics that keeps the politicians, like Susan Collins, who support illegal foreign wars like the one in Iraq, accountable and get them out of office."
Platner has spoken at length about his time on the battlefields of Iraq and Afghanistan and how, after multiple tours, he became not only disillusioned with the wars but also incredibly angry over the foreign policy decisions that started them.
Cheney, who served as VP under former President George W. Bush, has long been seen as the chief architect and driving force behind the effort to manipulate the US public into backing the invasion of Iraq in the wake of the 9/11 attacks, despite Iraq having nothing to do with the plot.
Cheney infamously said after 9/11 it would be time to "take off the gloves," which resulted in a torture regime operated by the CIA and war crimes across the Middle East, Afghanistan, Pakistan, and beyond at the direction of the Bush administration.
Bob Brigham, a self-identified progressive from Montana, was among those who applauded Platner for his statement.
"Dick Cheney was a war criminal who cost my buddy his life in Iraq," said Brigham in a social media post. "Platner has a pitch-perfect remembrance of the a-hole. May Dick Cheney roast in hell!"
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'Hope Is Alive!' Mamdani Victory in NYC Seen as Historic Turning Point
"If there is any way to terrify a despot, it is by dismantling the very conditions that allowed him to accumulate power. This is not only how we stop Trump. It is how we stop the next one."
Nov 05, 2025
Zohran Mamdani was elected the next mayor of New York City on Tuesday in a victory he and his supporters say reflects the hope of a city—and a nation—ready for a new kind of politics that puts the needs of working people at the center after decades of failed leadership that put corporate interests and the desires of the wealthiest first.
Withstanding a barrage of negative ads and fearmongering by the city's elite, the democratic socialist candidate secured 50.4 percent of the vote in a three-way race that saw disgraced former New York Governor Andrew Cuomo, who ran as an Independent after losing the Democratic primary to Mandani, nab 41.6 percent, and Republican candidate Curtis Sliwa just over 7 percent.
"Hope is alive," declared Mamdani in his victory speech from the Paramount Theater in Brooklyn after most major networks called the victory his shortly after 9:30 pm local time.
"While we cast our ballots alone, we chose hope together," said Mamdani. "Hope over tyranny. Hope over big money and small ideas. Hope over despair. We won because New Yorkers allowed themselves to hope that the impossible could be made possible. And we won because we insisted that no longer would politics be something that is done to us. Now, it is something that we do."
"This will be an age where New Yorkers expect from their leaders a bold vision of what we will achieve, rather than a list of excuses for what we are too timid to attempt." —Zohran Mamdani
Mamdani, a member of the New York State Assembly who ran a campaign focused on making life more affordable for the workers who make the nation's largest city run and thrive, said that while the campaign's unifying and inspiring spirit meant his supporters could express a collective sigh of relief after the election day win, the hard work will now be making that shared vision for the city become a reality.
"This will be an age where New Yorkers expect from their leaders a bold vision of what we will achieve, rather than a list of excuses for what we are too timid to attempt," he said. "Central to that vision will be the most ambitious agenda to tackle the cost-of-living crisis that this city has seen since the days of Fiorello La Guardia: an agenda that will freeze the rents for more than two million rent-stabilized tenants, make buses fast and free, and deliver universal child care across our city."
"Years from now, may our only regret be that this day took so long to come," he added. "This new age will be one of relentless improvement."
As progressives and Democrats nationwide took the victory in New York City as a sign of what a populist campaign focused on the needs of working people can accomplish, Mamdani also spoke to the underlying theme of Tuesday's elections across the country, where Democrats claimed major wins in various competitive races and ballot initiatives—outcomes seen as a resounding rebuke to President Donald Trump's scorched-earth second term.
"If we embrace this brave new course rather than fleeing from it," said Mamdani, "We can respond to oligarchy and authoritarianism with the strength it fears, not the appeasement it craves. After all, if anyone can show a nation betrayed by Donald Trump how to defeat him, it is the city that gave rise to him."
Mamdani: "We can respond to oligarchy and authoritarianism with the strength it fears, not the appeasement it craves. After all, if anyone can show a nation betrayed by Donald Trump how to defeat him, it is the city that gave rise to him." pic.twitter.com/mvGcsN01Xt
— Aaron Rupar (@atrupar) November 5, 2025
"If there is any way to terrify a despot," he added, "it is by dismantling the very conditions that allowed him to accumulate power. This is not only how we stop Trump. It is how we stop the next one."
That dynamic was front and center for many who heralded Mamdani's win as historic and called for the Democratic Party leadership to embrace his vision on economic issues and a more populist style of politics to displace the corporate stranglehold on the party.
Alexandra Rojas, executive director of Justice Democrats, called Mamdani's victory "the turning point in this Democratic Party that our movement has been working towards for years: electing leaders with the moral courage to unite our voters to take on Republican authoritarianism, Democratic corporatism, and billionaire greed all at once."
"Zohran Mamdani has never backed down from standing up to Trump and the forces that threaten our democracy,” said Aru Shiney-Ajay, executive director of the Sunrise Movement, a pro-democracy advocacy group focused on the climate crisis. “This is the leadership our democracy, and the Democratic Party, needs to rebuild trust with working people and fight for a future that works for everyone."
Michael Magazine, a campaigner with the group's local NYC affiliate, echoed that sentiment. "Tonight, the people of New York City showed up in force and reminded the world that grassroots power can beat big money," he said. "This is more than a win for Zohran. It’s a win for the movement and for democracy itself. We’ve proven that a bold, people-powered vision can overcome the status quo, and this is just the beginning."
"The oligarchy came out in full force against Zohran Mamdani's fight for a more affordable NYC," said former labor secretary Robert Reich following Tuesday night's victory. "It didn't matter. Let his victory in the face of Big Money serve as a reminder that people have the power."
Sen. Bernie Sanders (I-Vt.), who proudly endorsed Mamdani, also championed the win.
"Starting at 1% in the polls," said Sander, "Mamdani pulled off one of the great political upsets in modern American history. Yes. We CAN create a government that represents working people and not the 1%."
And Rep. Alexandria Ocasio-Cortez (D-N.Y.), one of Mamdani's most prominent backers in the race, also heralded his victory as a major turning point, not just for New York City, but for the party.
In her remarks to MSNBC shortly after Mamdani's victory was declared, the New York Democrat said the campaign and the "heroic effort" of its supporters was not only a fight against Trump and Republican destruction but also a battle against the Democratic Party's "old guard," which "essentially led us to many of the perils of this moment."
Mamdani, she explained, "how a two-front war to win, which is what makes his win so deeply impressive" in a broader political context that should be a wakeup call for those in the party resisting the kind of policies and politics that his campaign championed and exemplified.
"We have a future to plan for. We have a future to fight for," Ocasio-Cortez said of the party from now on. "And we're either gonna do that together, or you're gonna be left behind."
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