Keeping foreign corruption out of the United States: four case histories – A report released by the United States Senate, permanent subcommittee on investigations Committee on Homeland Security and Governmental Affairs in conjunction with the Permanent subcommittee on investigations – February 4, 2010 hearing.
This Report examines how politically powerful foreign officials, their relatives, and close associates – referred to in international agreements as “Politically Exposed Persons” or PEPs – have used the services of U.S. professionals and financial institutions to bring large amounts of suspect funds into the United States to advance their interests. Using four case histories, this Report shows how some PEPs have used U.S. lawyers, real estate and escrow agents, lobbyists, bankers, and even university officials, to circumvent U.S. anti-money laundering and anticorruption safeguards.
This Report also offers recommendations to stop the abuses.
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