Keeping Foreign Corruption Out of the United States: Four Case Histories

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391 pages
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Brief Executive Summary
The Homeland Security and Governmental Affairs’ Permanent Subcommittee on Investigations conducted an investigation to examine how politically powerful foreign officials, their relatives, and close associates have utilized services of U.S. professionals and financial institutions to benefit themselves by bringing in large sums of money into the United States. The following findings within this report show list individuals who either aided or benefitted from this form of money laundering and methods used: lawyers, real estate agents, escrow agents, lobbyist, offshore corporations, a university, personal accounts, government accounts, correspondent accounts, and vendor PEP lists. The report focuses on Politically Exposed Persons (PEP) and examines how foreign senior political figures may be undermining anti-money laundering (AML). The report found that certain places that have a cash-intensive banking system cause weak AML and a need for U.S financial institutions to strengthen their oversight.
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