Kleptocracy Daily: December 6, 2016


New from KI
  • Charles Davidson, KI’s Executive Director, will testify at the House Foreign Affairs Subcommittee on Europe, Eurasia, and Emerging Threats, on the topic “Corruption: A Danger to Democracy in Europe and Eurasia.” Watch live from 10:00 a.m. tomorrow.
  • Global Financial Integrity found that developing countries lost $16.3 trillion in unrecorded financial flows since 1980, making them net creditors to the global economy.
  • Torture in secret prisons: CNN looks at the dark side of Xi’s anti-corruption campaign.
  • A “Magnitsky” amendment to the UK’s Criminal Finances Bill would enable asset seizures against human rights abusers. (Guardian)
  • Transparency International found that 44,022 London properties are owned by foreign anonymous companies, 91 percent of which were based in secrecy jurisdictions. (TI)
  • A prestigious UK bank offered offshore services to a Brunei prince accused of stealing from his country. (Guardian)
  • Credit Suisse has been fined $16.5 million for ineffective money laundering safeguards. (Reuters)
  • Latvian police continue their investigation of PrivatBank for possible money laundering. (Baltic Times)
  • Russia is trying to speed up privatizations, despite Western sanctions. (Reuters)
  • Panama is struggling to shed its image as a magnet for shady deals. (NYT)
  • On December 14, Minxin Pei will join KI and a distinguished panel at Hudson Institute to discuss his new book, China’s Crony Capitalism. Register to attend.