The U.S. Secretary of the Treasury recently announced that they would step up the investigation of unidentified amounts in the United States of visiting foreign leaders.
The finance ministry will set up a waterproofing fund to reward those who provide clues. Experts say that this status of the United States is aimed at the Chinese Communist Party (CCP).
The CCP’s wealth in the United States is outstanding, and many of the CCP’s reference functions have moved money and family members to the United States.
Specifically, on Dec.10, U.S. Treasury Secretary Janet Yellen announced at the Global Democratic Summit that the Treasury Department must play a key role in global anti-referencing.
A Democratic Summit was convened by U.S. President Biden online in 111 countries worldwide. The conference has three themes: strengthening democracy and fighting autocracy. Fight corruption—and promote respect for human rights. The three main themes are all directed at the CCP.
Yellen said it is generally believed that Switzerland or the Cayman Islands focus on different countries’ watchdogs in investigating and hiding dirty money. But now, it is said that the best place to hide illegal gains and launder cash is in the United States.
“We have established an anti-corruption fund to reward those who can provide clues about corrupt foreign leaders hiding money in the United States.”
The Treasury Department will work with partners at the State Department, Justice Department, and the U.S. Agency for International Development in this effort to get thieves out of the United States and pursue them abroad.
Congress authorized the creation of the Asset Recovery Incentive Program, which will be part of the National Defense Authorization Act for Fiscal Year 2021, to support U.S. efforts to identify and recover assets, stolen, property, and returned to the countries concerned.
U.S. Secretary of State John Blinken singled out the Chinese Communist Party by name at the Democratic Summit, saying the U.S. would take new steps to combat global corruption.
“We will create a new role, the Coordinator on Global Anti-corruption Issues.”
The senior official will integrate and enhance anti-corruption capabilities in all aspects of U.S. foreign diplomacy and assistance and lead U.S. efforts in implementing an anti-corruption strategy corruption.