For years, one country has acted as the greatest offshore haven in the world, attracting hundreds of billions of dollars in illicit finance tied directly to corrupt regimes, extremist networks, and the worst the world has to offer. But it hasn’t been the sand-splattered Caribbean islands, or even traditional financial secrecy havens like Switzerland or Panama, that have come to dominate the offshoring world. Instead, the country profiting the most also happens to be the one that still claims to be the moral leader of the free world, and the one that claims to be leading the fight against the crooked and the corrupt: the USA.
However, the past year has seen unprecedented momentum in Washington to finally end the U.S.'s role as an offshore and financial secrecy haven. With a new administration elevating the fight against kleptocracy, and bipartisan legislation addressing loopholes and policies, the U.S.appears to be turning a corner in the broader efforts against trans-national money laundering. Suddenly, the US has taken a clear leadership role in the fight against kleptocracy.
Elise and Casey will have a conversation about the U.S.'s transformation, and the recent momentum toward ending this reign of American kleptocracy. Are the new policies enough? What more can be done? And what should we be looking for next in these efforts, both in the U.S. and abroad?
1 ACAMS Credit
**Please note that ACAMS credit for this virtual event is available to members of the Chapter only.