The Kleptocracy Asset Recovery Rewards Act Would Establish a Rewards Program for Whistleblowers.
WASHINGTON, D.C. – A bipartisan group of lawmakers introduced legislation Tuesday afternoon to combat terror finance and foreign government corruption in a move that was welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.
Sponsored by Reps. Stephen Lynch (D-MA) and Keith Rothfus (R-PA), the Kleptocracy Asset Recovery Rewards Act (H.R. 5101) would establish a rewards program for whistleblowers — encouraging individuals to inform the U.S. government about assets in the U.S. financial system that are connected to foreign corruption, enabling authorities to reclaim and return the money and deter foreign corruption moving forward.
Clark Gascoigne, the deputy director of the FACT Coalition, issued the following statement:
“Foreign corruption is a major economic and national security threat to the United States. Corruption undermines the rule of law, provides the lifeblood of authoritarian regimes and enables transnational organized crime to flourish. It diverts precious resources away from those who most need them, and fosters disillusionment with government—sometimes leading to the rise of terrorist networks.
“The Kleptocracy Asset Recovery Rewards Act is a sensible tool to safeguard American citizens and businesses from the scourge of corruption.”
In addition to Reps. Lynch and Rothfus, the bill is co-sponsored by Ted Budd (R-NC), Michael Capuano (D-MA), Steve Cohen (D-TN), James P. McGovern (D-MA), Kyrsten Sinema (D-AZ), Norma J. Torres (D-CA), and Maxine Waters (D-CA).
- Read a press release from Reps. Lynch and Rothfus.