Kleptocracy Daily: April 18, 2017

Tomorrow: KI will host Oleksander Danyliuk, Minister of Finance of Ukraine, for a discussion with Walter Russell Mead at Hudson Institute. Sign up or watch live.


An Oregon legislative committee has passed a sweeping piece of legislation designed to rein in abusive, anonymous companies. (Portland Business Journal)

The impoverished Democratic Republic of Congo has introduced biometric passports, but most of that money does not go to the state. Instead millions of dollars go to a private company in the Gulf – and sources say it is owned by a relative of President Joseph Kabila. (Reuters)

A landmark global corruption settlement with Brazilian construction giant Odebrecht SA was cut during the sentencing in Brooklyn federal court yesterday; the firm was ordered to pay $2.6 billion to the governments of Brazil, Switzerland and the U.S. The company admitted to running bribery schemes over the course of 15 years in more than a dozen countries that led to $3.34 billion in ill-gotten “benefits.” (WSJ)

HSBC Holdings is stepping up its compliance procedures this year to meet higher global standards as part of the deferred prosecution agreement with the DoJ following the bank’s $1.9 billion penalty for breaching American money-laundering rules. (SCMP)

British police arrested Indian business tycoon Vijay Mallya in London on behalf of authorities in India, where he is wanted on charges of money laundering and bank demands that he pay back nearly a billion pounds in loans extended to his now-defunct airline. (The Telegraph)


Global Witness has a new online tool that allows you to search for anonymous companies—or their victims—in an interactive map.

The Financial Times discusses how London’s housing crisis is abetted by illicit funds.