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The Despot's Guide to Wealth Management : On the International Campaign against Grand Corruption / J. C. Sharman.

By: Material type: TextTextPublisher: Ithaca, NY : Cornell University Press, [2017]Copyright date: ©2017Description: 1 online resource (274 p.)Content type:
Media type:
Carrier type:
ISBN:
  • 9781501708442
Subject(s): DDC classification:
  • 364.1/323 23
Other classification:
  • online - DeGruyter
Online resources:
Contents:
Frontmatter -- Contents -- Preface -- Introduction -- 1. The Rise of the Anti-Kleptocracy Regime -- 2. The United States: A Superpower Stirs -- 3. Switzerland: The Unlikely Crusader -- 4. The United Kingdom: Development, or Sleaze and the City? -- 5. Australia: In Denial -- Conclusion: Making Them Pay -- Notes -- Bibliography -- Index
Summary: An unprecedented new international moral and legal rule forbids one state from hosting money stolen by the leaders of another state. The aim is to counter grand corruption or kleptocracy ("rule by thieves"), when leaders of poorer countries—such as Marcos in the Philippines, Mobutu in the Congo, and more recently those overthrown in revolutions in the Arab world and Ukraine—loot billions of dollars at the expense of their own citizens. This money tends to end up hosted in rich countries. These host states now have a duty to block, trace, freeze, and seize these illicit funds and hand them back to the countries from which they were stolen. In The Despot's Guide to Wealth Management, J. C. Sharman asks how this anti-kleptocracy regime came about, how well it is working, and how it could work better. Although there have been some real achievements, the international campaign against grand corruption has run into major obstacles. The vested interests of banks, lawyers, and even law enforcement often favor turning a blind eye to foreign corruption proceeds. Recovering and returning looted assets is a long, complicated, and expensive process.Sharman used a private investigator, participated in and observed anti-corruption policy, and conducted more than a hundred interviews with key players. He also draws on various journalistic exposés, whistle-blower accounts, and government investigations to inform his comparison of the anti-kleptocracy records of the United States, Britain, Switzerland, and Australia. Sharman calls for better policing, preventative measures, and use of gatekeepers like bankers, lawyers, and real estate agents. He also recommends giving nongovernmental organizations and for-profit firms more scope to independently investigate corruption and seize stolen assets.

Frontmatter -- Contents -- Preface -- Introduction -- 1. The Rise of the Anti-Kleptocracy Regime -- 2. The United States: A Superpower Stirs -- 3. Switzerland: The Unlikely Crusader -- 4. The United Kingdom: Development, or Sleaze and the City? -- 5. Australia: In Denial -- Conclusion: Making Them Pay -- Notes -- Bibliography -- Index

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An unprecedented new international moral and legal rule forbids one state from hosting money stolen by the leaders of another state. The aim is to counter grand corruption or kleptocracy ("rule by thieves"), when leaders of poorer countries—such as Marcos in the Philippines, Mobutu in the Congo, and more recently those overthrown in revolutions in the Arab world and Ukraine—loot billions of dollars at the expense of their own citizens. This money tends to end up hosted in rich countries. These host states now have a duty to block, trace, freeze, and seize these illicit funds and hand them back to the countries from which they were stolen. In The Despot's Guide to Wealth Management, J. C. Sharman asks how this anti-kleptocracy regime came about, how well it is working, and how it could work better. Although there have been some real achievements, the international campaign against grand corruption has run into major obstacles. The vested interests of banks, lawyers, and even law enforcement often favor turning a blind eye to foreign corruption proceeds. Recovering and returning looted assets is a long, complicated, and expensive process.Sharman used a private investigator, participated in and observed anti-corruption policy, and conducted more than a hundred interviews with key players. He also draws on various journalistic exposés, whistle-blower accounts, and government investigations to inform his comparison of the anti-kleptocracy records of the United States, Britain, Switzerland, and Australia. Sharman calls for better policing, preventative measures, and use of gatekeepers like bankers, lawyers, and real estate agents. He also recommends giving nongovernmental organizations and for-profit firms more scope to independently investigate corruption and seize stolen assets.

Mode of access: Internet via World Wide Web.

In English.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 26. Apr 2024)