💸Kleptocracy #11 | The rise of US financial secrecy and how to target corrupt polluters
The latest global news, research and analysis
Welcome to Kleptocracy, Hudson Institute’s free weekly newsletter on how corruption is reshaping global politics and security. Keep scrolling for the latest news, research and analysis from around the world.
💸NEW FROM KI
🎧 Making a Killing #29: American Kleptocracy with Casey Michel | Hudson Institute
Casey talks to Nate and Paul about his debut book, which chronicles the rise of US financial secrecy through the colorful stories of two famous kleptocrats—and explains why the US must lead global efforts against transnational corruption.
Pre-order American Kleptocracy, published November 23, and watch Casey explain different aspects of his investigation at the FACT Coalition, Royal United Services Institute, and Atlantic Council.
How the Next Republican President Can Restore US Leadership on Climate Change | Nate Sibley, Politico
“A future Republican administration could even supercharge President Joe Biden’s laudable commitment to combating kleptocracy with Trump-style “maximum pressure” enforcement campaigns against regimes engaged in the most environmentally harmful forms of illicit activity.”
🗞️NEWS
Son of former Panama president to plead guilty in Odebrecht case | Luis Martinelli is charged conspiring to launder $28 million in bribes. | WSJ
Kidnapped Interpol chief’s wife speaks out | Grace Meng has been under police protection in France since her husband was targeted by authorities during a trip back to China in 2018. | AP
Congressional commission recommends restrictions on US investment in China | The influential US-China Economic and Security Review Commission also suggests banning shell companies used by Chinese firms to list on US exchanges. | WSJ
CCP condemns "money worship", "extreme individualism" and corruption | The document also puts Xi Jinping on the same pedestal as predecessors Mao Zedong and Deng Xiaoping. | Reuters
Former Georgian minister on elite corruption and China | Tinatin (Tina) Khidashelis highlights rising instances of apparent cronyism involving Chinese companies, touted as alternatives to Russian economic dependence but which also increase Beijing’s influence. | Axios
Ending corruption and reliance on Gazprom key for Moldova, says PM | Natalia Gavrilița and Maia Sandu have their work cut out to rid the country of corrupting influences. | Guardian
Anti-corruption party wins Bulgarian election | We Continue the Change is a centrist movement that captured popular frustration with widespread corruption. | AP
Pandora Papers casts light on Emirati royals’ role in secret money flows | The UAE’s glittering cityscapes are open for business, which sometimes includes international crime. | ICIJ
Maduro regime embraces crony capitalism in Venezuela | After destroying the economy and stealing $300 billion under the guise of socialism, new initiatives include a commission of army generals selling casino licenses. | WSJ
Mexico former governor’s extradition highlights money laundering in cattle industry | César Duarte is accused of embezzling $5 million and laundering it partly through a ranchers’ union. | InsightCrime
Peru governor accused in China wood trafficking case | Luis Hidalgo Okimura is accused of taking bribes to provide logging concessions and transport permits. | InsightCrime
Swiss watchdog faults two more banks in Venezuela money-laundering probe | Banca Zarattini and CBH Bank failed to uphold diligence requirements relating to customers linked to PDVSA scandal. | Reuters
One in three people in Pacific Islands region paid a bribe last year | A quarter of people further say they’ve been offered a bribe for their votes. | Guardian
Corruption and Covid in spotlight as Tonga votes | Half the population has experienced bribery dealing with public officials. | AFP
Jailed Russian tycoon’s ex-wife found dead in London home | Igor Izmestiev was jailed after being linked to a dozen contract killings | Times
📖RESEARCH & ANALYSIS
🏛️Confronting Kremlin and Communist Corruption | Lawmakers and experts testify on countering the threat of Russian and Chinese kleptocracy. | US Helsinki Commission
Government Defence Integrity Index 2020 | 62 percent of countries are at high to critical risk of corruption in their defense sectors. | Transparency International
🏛️The Nexus Between the Illicit Narcotics Trade and Corruption | Lawmakers and experts examine the role and effectiveness of US agencies in addressing kleptocracy that fuels drug trafficking. | Senate Caucus on International Narcotics Control