We have all become aware of the Russian kleptocracy. Studies, investigatory books, and considerable reporting have shown that Russian kleptocrats and other corrupt public officials steal the public’s wealth for personal gain and use their positions of power and access to state-owned resources for their personal benefit.
The U.S. government has imposed sanctions on many of these individuals and the businesses and state-owned entities they control as part of U.S. efforts to hold President Putin and his supporters accountable for Russia’s invasion of Ukraine and restrict their access to assets to finance Russia’s destabilizing activities globally.
Like other criminal actors, corrupt public officials launder the proceeds of their corruption through various means, including funneling money through shell companies or purchasing various high-end assets, such as real estate, yachts, private jets, and high-value art.
I will briefly outline the typologies and how money laundering is usually accomplished. Afterward, I will list ten Red Flags associated with kleptocracy and foreign public corruption.
