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

One for the diary, from the excellent Permanent Subcommittee on Investigations in the U.S:

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

Thursday, February 4, 2010
09:30 AM

Dirksen Senate Office Building, room 342

The Permanent Subcommittee on Investigations has scheduled a hearing, "Keeping Foreign Corruption Out of the United States: Four Case Histories," on Thursday, February 4, 2010, at 9:30 a.m., in Room 342 of the Dirksen Senate Office Building.

The Subcommittee hearing will examine how some politically powerful foreign officials, their relatives, or close associates – referred to in international agreements as “Politically Exposed Persons” or PEPs – have used the services of U.S. professionals and U.S. financial institutions to bring millions of dollars in suspect funds into the United States to advance their interests. Four case histories will illustrate how some PEPs have used U.S. lawyers, realtors, escrow agents, lobbyists, bankers, and others to circumvent U.S. anti-money laundering and anti-corruption safeguards. It will also look at how some U.S. professionals have actively helped PEPs avoid bank scrutiny or facilitated suspect transactions with no questions asked. The hearing will also examine whether U.S. policies and practices to combat foreign corruption and money laundering need strengthening. Witnesses will include government agencies, including the State Department, Immigration & Customs Enforcement (ICE), and Financial Crimes Enforcement Network (FinCEN), as well as lawyers, a realtor, and representatives of financial institutions.

A witness list will be available Tuesday, February 2, 2010."

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