Fifth U.S. Open Government National Action Plan
Commitment Tracker

Commitment:

Implement Open Government Components of a New Government-Wide Strategy on Countering Corruption

Full Commitment Text OGP Commitment Page

Progress for this commitment is tracked based on the following sub-commitment(s). You can also view the full text of this commitment.

US0130.1	The U.S. Department of the Treasury is continuing to build the infrastructure and database for beneficial ownership reporting, and will issue further rulemakings to implement the CTA.
Agency	Treasury Department Financial Crimes Enforcement Network (FinCEN)
Progress	The Treasury Department continues to release guidance related to beneficial ownership information reporting and access on its dedicated site linked below. Since the release of NAP 5, updates to the public include informational videos about beneficial ownership reporting, answers to frequently asked questions, and key dates for reporting. Treasury officials have also testified before Congress on CTA implementation and participated in a public meeting with relevant stakeholders in law enforcement, financial institutions, and industry groups to ensure that small businesses understand the new beneficial ownership information reporting requirements and solicit feedback on CTA implementation. https://www.fincen.gov/boi FinCEN CTA Congressional Testimony: Hearing Entitled: “Oversight of the Financial Crimes Enforcement Network (FinCEN) and the Office of Terrorism and Financial Intelligence (TFI)” - Financial Services Committee (house.gov): https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=408719 Treasury Outreach Event: READOUT: Treasury Officials Visit Kentucky and Ohio to Meet with Financial Institutions, Hold FinCEN Exchange on Combatting Fentanyl Trafficking - FinCEN.gov: https://www.fincen.gov/news/news-releases/readout-treasury-officials-visit-kentucky-and-ohio-meet-financial-institutions

US0130.1

The U.S. Department of the Treasury is continuing to build the infrastructure and database for beneficial ownership reporting, and will issue further rulemakings to implement the CTA.

Agency

Treasury Department Financial Crimes Enforcement Network (FinCEN)

Progress

The Treasury Department continues to release guidance related to beneficial ownership information reporting and access on its dedicated site linked below. Since the release of NAP 5, updates to the public include informational videos about beneficial ownership reporting, answers to frequently asked questions, and key dates for reporting. Treasury officials have also testified before Congress on CTA implementation and participated in a public meeting with relevant stakeholders in law enforcement, financial institutions, and industry groups to ensure that small businesses understand the new beneficial ownership information reporting requirements and solicit feedback on CTA implementation.

https://www.fincen.gov/boi

FinCEN CTA Congressional Testimony: Hearing Entitled: “Oversight of the Financial Crimes Enforcement Network (FinCEN) and the Office of Terrorism and Financial Intelligence (TFI)” - Financial Services Committee (house.gov): https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=408719

Treasury Outreach Event: READOUT: Treasury Officials Visit Kentucky and Ohio to Meet with Financial Institutions, Hold FinCEN Exchange on Combatting Fentanyl Trafficking - FinCEN.gov: https://www.fincen.gov/news/news-releases/readout-treasury-officials-visit-kentucky-and-ohio-meet-financial-institutions

US0130.2	The Federal Government commits to working with international partners to further elevate international standards and practices against illicit finance, and continue to build the cooperative relationships to combat such conduct.
Agency	Domestic Policy Council, National Security Council
Progress	A fact sheet was released in March 2023 on the implementation of the US Strategy on Countering Corruption, which includes measures to curb and combat illicit finance and foster international cooperation. The fact sheet can be found here: https://www.whitehouse.gov/briefing-room/statements-releases/2023/03/29/fact-sheet-implementing-the-united-states-strategy-on-countering-corruption-accomplishments-and-renewed-commitment-in-the-year-of-action/

US0130.2

The Federal Government commits to working with international partners to further elevate international standards and practices against illicit finance, and continue to build the cooperative relationships to combat such conduct.

Agency

Domestic Policy Council, National Security Council

Progress

A fact sheet was released in March 2023 on the implementation of the US Strategy on Countering Corruption, which includes measures to curb and combat illicit finance and foster international cooperation. The fact sheet can be found here:

https://www.whitehouse.gov/briefing-room/statements-releases/2023/03/29/fact-sheet-implementing-the-united-states-strategy-on-countering-corruption-accomplishments-and-renewed-commitment-in-the-year-of-action/