U.S. Attorney General (AG) Pam Bondi announced the disbandment of the Department Of Justice ’s anti-corruption task force in a memorandum on Wednesday 5 February 2025 – sending shockwaves across the international community. The disbandment is significant because it extended to the Kleptocracy Asset Recovery Initiative and KleptoCapture Task Force where most of the international asset forfeiture unit and resources are housed. The announcement noted that seized funds, previously returned to victim countries, will now be used to build detention centers in Texas and Guantanamo Bay.
AG Pam Bondi claimed that the decision aligns with Trump’s Executive Order targeting cartels as foreign terrorist groups. The announcement has left ongoing corruption cases in limbo. The Kleptocracy Initiative, established in 2010, was crucial in recovering illicit assets, including $1.4 billion from the 1MDB scandal, and more than $350 million to Nigeria in the past ten years with negotiations going on several cases.
Non-state actors around the world and particularly Transparency International and experts warn that shutting down these initiatives weakens U.S. anti-corruption efforts and emboldens corrupt leaders. Countries who are negotiating ongoing bilateral agreements on asset sharing and return with the U.S. where funds belonging to impoverished citizens are trapped in U.S. treasury have a lot to worry about.
There are growing calls for reinstatement to ensure continued enforcement against global financial crimes. Read more here
#GFAR #ASSETRECOVERY #FORFEITURE #KLEPTOCRATS #ASSET RETURN #UNCAC #SDGS
