Tackling Kleptocracy: AEI’s Michael Rubin examines the true costs of global corruption with Ben Judah’s recent report for KI, The Kleptocracy Curse. (Commentary)
United States
The Clearing House, which represents major U.S. banks, published a report recommending an overhaul of anti-money laundering rules and the publication of beneficial ownership data. Critics of the current system say it is outdated and that banks are “wasting billions” in compliance. (WSJ, FT)
President Trump issued an Executive Order targeting the illicit financial flows of international criminal organizations.
Trump also signed an order revoking a requirement for U.S. extractives firms to disclose payments to foreign governments. What happens …read more
Source: Kleptocracy Initiative