Part ofkleptocracy →

FEDERALhearing transcript

High Impact

Hearing on Combating Kleptocracy and Corporate Transparency

Original title: COMBATING KLEPTOCRACY WITH INCORPORATION TRANSPARENCY

January 1, 2017

kleptocracy money laundering corporate transparency shell companies foreign policy corruption

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The Frame

What this does

The hearing explores legislative and policy gaps in U.S. corporate law that allow foreign actors to hide assets and influence, which impacts national security and international financial integrity.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Law enforcement agencies

These agencies are tasked with investigating financial crimes involving opaque corporate structures.

Foreign governments

These entities are impacted by the flow of illicit funds and the use of shell companies to influence their internal politics.

What changed

Last recorded activity January 1, 2017.

What's next

Next step not available in the current record.

Summary

This document is a transcript of a 2017 Congressional hearing held by the Commission on Security and Cooperation in Europe. The hearing examined how anonymous shell companies are used to facilitate international , corruption, and the undermining of democratic institutions.

Key Facts

The hearing took place on October 3, 2017, in the Dirksen Senate Office Building.
The hearing focused on the use of shell companies to facilitate money laundering and corruption.
The 'Azerbaijani Laundromat' scheme involved 2.5 billion euros funneled through U.K. shell companies between 2012 and 2015.
The hearing discussed the 'Panama Papers' as evidence of global use of shell companies for illicit activities.
The Commission identified U.S. corporate laws as a factor in the country's role as a destination for money laundering.
The hearing addressed the use of corruption as a tool for foreign influence, specifically referencing Russian activities.

Why It Matters

The hearing explores legislative and policy gaps in U.S. corporate law that allow foreign actors to hide assets and influence, which impacts national security and international financial integrity.

Frequently Asked Questions

What is the purpose of this hearing?

The hearing was held to examine how anonymous shell companies are used to hide assets and facilitate international crime, and to discuss potential improvements to corporate transparency.

What is a 'shell company' in this context?

The document refers to entities used to obscure the identity of the true owners of assets, often to facilitate or avoid legal scrutiny.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Focus on Corporate Transparency

The hearing highlights a shift in legislative focus toward using corporate transparency as a primary tool for national security and anti-corruption efforts.

Commission on Security and Cooperation in Europe

Connected Entities

personCaroline Vicini“Witness, Deputy Head of Delegation of the European Union to the U.S.”Map →

personCharles Davidson“Witness, Executive Director of the Kleptocracy Initiative”Map →

personGary Kalman“Witness, Executive Director of the FACT Coalition”Map →

personPatrick P. O'Carroll“Witness, Executive Director of the Federal Law Enforcement Officers Association”Map →

organizationCommission on Security and Cooperation in Europe“The body hosting the hearing”Map →

personSheldon D. Whitehouse“Commissioner presiding over the hearing”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance75
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment20
Compellingness for a non-policy-wonk reader
Buzz10
Current news / social attention level

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