25th April 2017, London – New bi-partisan legislation to treat international corruption as a national security threat is a vital development following the February repeal of Section 1504 of the 2010 Dodd-Frank Act.
The Combating Global Corruption Act of 2017, introduced by US Senators Ben Cardin (D-Md.) and David Perdue (R-Ga.) with support from Feinstein, Rubio, Blumenthal, Collins, Merkley, Booker, and Leahy requires the State Department publish an annual report on the state of corruption worldwide. It provides that national anti-corruption programs be ranked according to a three-tiered ranking system and, crucially, requires that US agencies (Department of State, Department of Defense, USAID) pursue specific transparency and accountability measures where national efforts are considered insufficient.
Katherine Dixon, Director Transparency Defence and Security, said:
“The link between corruption and development is simple: corrupt leaders that siphon state funds and resources away from vulnerable populations bring about weak states and public unrest, creating fertile ground for terrorists and organised crime.”
“The February repeal of Section 1504 was a step back for US anti-corruption efforts. But, with the Combatting Global Corruption Act, we have the chance to make some big moves forward. In evaluating how seriously countries take corruption on their home turf, the US has raised the spectre of global corruption and elevated it on the foreign policy agenda.”
TI added that the US must set the gold standard at home if it is to fight corruption elsewhere.
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