Strong move for the USG to disclose this information, showing how the aggressive approach to declassifying Kremlin covert ops—which worked well in the run-up to the war in Ukraine—can be broadly extended to informing voters of assaults on democracy. 👏👏👏washingtonpost.com/politics/us-ru…
The intelligence community is right to point to 2014 as the year when the Kremlin dramatically escalated the scope of its financial interference operations.
Putin authorized campaigns against Europe in 2014, the United States in 2016, and Africa in 2018.
Half of all financial interference in the world involves Russia targeting Europe, but China does it too against Australia, New Zealand, and Czechia. And both regimes bribe African leaders. The most common target of malign finance—hit more than 25 times—is the United States.
In terms of nonprofit conduits, think of the Delaware “adoptions” foundation lobbying against Russia sanctions, cultivation of elites through the NRA, environmental groups opposing US hydraulic fracking, Ghanaian nonprofit employing trolls pretending to be African Americans, etc.
In terms of corporate conduits, think of Lev Parnas and Igor Fruman using an anonymous Delaware shell company to hide contributions funded by elite Russian businessmen.
For more than 100 examples in 33 countries, and rich details about how these financial interference operations work, read our full research report on #CovertForeignMoney. We came up with the same $300 million statistic revealed by the USG today. ⬇️ securingdemocracy.gmfus.org/covert-foreign…
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Over the past 24 hours, I’ve been asked by journalists all over the world whether my research suggests their country might be among the two dozen countries where Russian money has infiltrated politics. Nowhere is this question coming up more than in Italy. reuters.com/world/europe/r…
The US intel assessment reportedly names countries included in my research, like Montenegro & Madagascar, plus some new ones, like Albania, Ecuador, & an unnamed Asian country (where the Russian ambassador gave millions in cash to a presidential candidate).washingtonpost.com/national-secur…
To see the 33 countries identified in my report on #CovertForeignMoney as having receiving political financing from Kremlin-linked actors, see where the red arrows point to in the map below. One of these target countries is Italy.
"Corruption…is a form of financial alchemy…transformation of power into illicit money or illicit money into power…bad actors usually need an intermediary: a shell company, real estate transaction, art purchase."
"For this reason, combatting corruption is not just the work of the justice ministries…It is also the work of finance ministries…And we believe that our finance ministry, in particular—@USTreasury—must play a leading role."
"There’s a good argument that, right now, the best place to hide and launder ill-gotten gains is actually the United States."
Boom—@POTUS opens the #SummitforDemocracy by unveiling his Initiative for Democratic Renewal—a plan to invest $424mn in a flotilla of 29 funds/programs to support independent media, anticorruption, democratic reformers, free internet, & electoral integrity!whitehouse.gov/briefing-room/…
1⃣ Independent Media
@USAID will:
✅ Give $30mn to @FundFreeMedia
✅ Spend $5mn launching a Media Viability Accelerator
✅ Spent $9mn on a Defamation Defense Fund
@StateDept will:
✅ Dedicate $3.5mn to a Journalism Protection Platform
✅ Engage with the Media Freedom Coalition
2⃣ Anticorruption
@USAID to launch programs w/ $5mn protecting whistleblowers/activists, $16mn on transnational corruption, $12mn on resilient policy, $18mn on rapid response.
@StateDept spends $15mn against safe havens, $7mn on PPPs.
Boom—@PowerUSAID launches a Grand Challenge to combat transnational corruption!
This is a big global initiative. Over the past decade, ten @USAID Grand Challenges have funded 450 innovations in 60 countries, bringing in new voices to solve monumental development problems. 👏👏👏
Have an idea for a new tool to detect, track, and disrupt corruption that cuts across borders?
You should participate in the design/co-creation process, host an event, fund a call for innovations, support a prize competition, or provide mentorship to innovators across the globe.
Of the 76 lines of effort announced by the administration today, the single strongest potential move is this one that @TreasuryDepSec just emphasized in his remarks. It's easy to gloss over. A FinCEN advance notice of proposed rulemaking on real estate. But it could be historic.
I recently wrote that "In the modern history of the U.S. Treasury Department, no regulatory decision has done more to let dirty money flow with impunity than the 2002 exemption for real estate professionals [from the anti-money laundering rules enacted after 9/11]."
Today, the White House, FinCEN, and the Treasury Deputy Secretary all made a point of underscoring—at varying levels of detail—that two decades is long enough and so they’re not necessarily limiting their work on real estate transparency to title insurance companies.
It's esp. focused on the transnational dimensions and ability to launder the proceeds of corruption (pillar 2⃣ is the most important), but it's a whole-of-government strategy with five pillars:
1⃣ US government
2⃣ Illicit finance
3⃣ Accountability
4⃣ Multilateral
5⃣ Foreign aid