![]() ![]() (d) Bolster the capacity of domestic and international institutions and multilateral bodies focused on establishing global anti-corruption norms, asset recovery, promoting financial transparency, encouraging open government, strengthening financial institutions’ frameworks to prevent corruption in development finance projects, and combating money laundering, illicit finance, and bribery, including, where possible, addressing the demand side of bribery (c) Hold accountable corrupt individuals, transnational criminal organizations, and their facilitators, including by, and where appropriate, identifying, freezing, and recovering stolen assets through increased information sharing and intelligence collection and analysis, criminal or civil enforcement actions, advisories, and sanctions or other authorities, and, where possible and appropriate, returning recovered assets for the benefit of the citizens harmed by corruption (b) Combat all forms of illicit finance in the United States and international financial systems, including by robustly implementing Federal law requiring United States companies to report their beneficial owner or owners to the Department of the Treasury reducing offshore financial secrecy improving information sharing and, as necessary, identifying the need for new reforms (a) Modernize, increase, coordinate, resource, and otherwise improve the ability of key executive departments and agencies (agencies), including those represented in the review and listed below, to promote good governance and prevent and combat corruption, including, as needed, by proposing relevant legislation to the Congress ![]() Accordingly, I hereby direct the Assistant to the President and National Security Advisor, in coordination with the Assistant to the President for Economic Policy and the Assistant to the President for Domestic Policy, to conduct an interagency review process under National Security Memorandum/NSM-2 (Renewing the National Security Council System) and develop a Presidential strategy that will, when implemented, significantly bolster the ability of the United States Government to: My Administration will lead efforts to promote good governance bring transparency to the United States and global financial systems prevent and combat corruption at home and abroad and make it increasingly difficult for corrupt actors to shield their activities. In issuing this National Security Study Memorandum, I establish countering corruption as a core United States national security interest. But by effectively preventing and countering corruption and demonstrating the advantages of transparent and accountable governance, we can secure a critical advantage for the United States and other democracies. Anonymous shell companies, opaque financial systems, and professional service providers enable the movement and laundering of illicit wealth, including in the United States and other rule-of-law-based democracies.Ĭorruption threatens United States national security, economic equity, global anti-poverty and development efforts, and democracy itself. The proceeds of these acts cross national borders and can impact economies and political systems far from their origin. While such costs are not evenly shared worldwide, the abuse of power for private gain, the misappropriation of public assets, bribery, and other forms of corruption impact every country and community. It has been estimated that acts of corruption sap between 2 and 5 percent from global gross domestic product. In financial terms alone, the costs of corruption are staggering. When leaders steal from their nations’ citizens or oligarchs flout the rule of law, economic growth slows, inequality widens, and trust in government plummets. Corruption corrodes public trust hobbles effective governance distorts markets and equitable access to services undercuts development efforts contributes to national fragility, extremism, and migration and provides authoritarian leaders a means to undermine democracies worldwide. Get Involved Show submenu for “Get Involved””.The White House Show submenu for “The White House””.Office of the United States Trade Representative.Office of Science and Technology Policy.Executive Offices Show submenu for “Executive Offices””.Administration Show submenu for “Administration””. ![]()
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