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US Authorities Launch Anti-Graft Campaign, Plan Strong Beneficial Ownership Rule

By Valentina Pasquali

U.S. lawmakers and officials disclosed plans to prevent kleptocrats from embezzling and moving funds globally in the coming months, including through strong implementation and enforcement of a new federal requirement for legal entities to identify their true owners. A memorandum signed by President Joe Biden on Thursday identifies the fight against corruption as a core U.S. national security interest and directs National Security Advisor Jake Sullivan and other senior administration officials to review existing anti-graft measures and recommend ways to strengthen them. Representatives from the Treasury, State and Justice departments and other executive agencies will conduct the review with an...

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