The U.S. has shown its determination to step up the global fight against corruption. The government highlights the importance of monitoring money laundering and illegal financial activities abroad.
The U.S. government recently announced it would invest $424 million next year to support media freedom, deal with international corruption, promote technologies that benefit democracy, and protect election integrity.
The Biden administration recently chaired the “Democracy Summit” attended by 110 governments worldwide on December 12th.
Deputy Secretary of State Antony Blinken and Janet Yellen, Secretary of the Treasury, reiterated the need to combat transnational corruption, VOA reported.
The U.S. Secretary of state Department will establish the role of global anti-corruption coordinator. The U.S. Treasury Department will set up an anti-corruption fund to reward those who provide leads on foreign officials in cooperation.
The U.S. Treasury Department is working to combat money laundering and prevent illegal financial activities abroad. While some small countries are seen as safe havens for hiding or laundering money, in reality, enormous amounts of illicit funds can pass through in the U.S. markets.
“One crucial measure is exposing who owns shell companies and other illicit funds,” Yellen proposed.
The Financial Crimes Enforcement Network (FinCEN) solicits public comment on a possible new rule is designed to collect data and address the vulnerability of the U.S. real estate market to money laundering and other illegal activities.
Under a recently passed law, if the cash value of a residential real estate purchase exceeds $300.000, relevant reports will be required by the authorities to reveal the identity of the real estate’s owner. This regulation will be applied to the entire U.S. All cash transactions will be administered to combat money laundering in the real estate market.
On December 13th, Chinese locals spread information that the U.S. government began to require Chinese people to provide information about the origin of their assets and investigate the Chinese people who paid the total amount to buy properties in the U.S.
A Twitter user shared two screenshots. One of them was a post by a Weibo netizen that read: “A one-time payment of 300,000 dollars has been investigated.”
Another netizen posted an article on December 12th, saying that a person came to New York seven or eight years ago. Her husband initially worked at the Guangdong Department of Finance and immigrated to the U.S. On December 11th, this woman received a written request to prove the origin of the property.
Some public comments point out that Chinese Communist Party (CCP) officials should be the most worried because they have families, children, and assets in the U.S. and other Western countries. At the same time, they account for the most corruption, money laundering, and illegal financing.
According to statistics from the internal affairs agency revealed in March 2012, 89% of the Central Commission for Discipline Inspection Department officials in China have relatives immigrating abroad.
187 out of 204 members of the 17th CCP Central Committee have family members who have settled in foreign countries in Europe and the U.S.
Public information shows that Deng Zhuodi, the grandson of Deng Xiaoping, and Jiang Zhicheng, the grandson of Jiang Zemin, both have American citizenship.
The report cites U.S. published statistics that 75% of the second-generation CCP Ministers and above, including retired officials, have green cards or American citizenship, 91% of their grandchildren have U.S. citizenship.