Greetings from Sarajevo,
Summer is here, but OCCRP isn’t slowing down. This week we published three big investigations about cigarette smuggling in the Middle East and phosphate exports from Syria. In mid-July, we'll be hosting a live online discussion with a prominent Russian journalist who has been forced to flee his country.
Before we share the details, we wanted to highlight some promising news from the United States, one of the world's largest hubs for dirty money, which is poised to pass landmark legislation in the fight against kleptocracy.
Last week, U.S. legislators approved the inclusion of the ENABLERS Act into the next defense budget.
The ENABLERS Act was introduced shortly after the publication of the Pandora Papers, which exposed how art dealers, trust companies, law firms, and other entities in the U.S. are rife with money derived from corruption and criminal activity.
The new legislation would force professionals in these sectors to report suspicious activity to the Treasury Department. Similar due diligence requirements are already in place on banks, which must flag dubious transactions to the Financial Crimes Enforcement Network (FinCEN).
This bill won’t shut off the spigot of illicit money flows, but it could make the professional enablers of financial crime a bit more reluctant to help.
Now, for the latest in global crime and corruption:
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