Insights & Publications
Diversity, Equity & Inclusion
© 2023 Debevoise & Plimpton LLP
Back to Top
FinCEN Issues Advisory on Kleptocracy and Foreign Public Corruption
20 April 2022
View Debevoise Update
On April 14, 2022, the Financial Crimes Enforcement Network (“FinCEN”) released its “Advisory on Kleptocracy and Foreign Public Corruption” (the “Advisory”), urging covered financial institutions to prioritize identifying the proceeds of foreign public corruption.
The Advisory focuses on “wealth extraction” and the “laundering of illicit proceeds” as two key typologies of kleptocracy and foreign public corruption.
FinCEN identifies ten red flags implicating potential kleptocracy and foreign public corruption, which may trigger suspicious activity reporting requirements.
International Sanctions Compliance & Enforcement
White Collar & Regulatory Defense
Satish M. Kini
Andrew M. Levine
Robert T. Dura
UK Modern Slavery Act Transparency Statement
Debevoise Login (2)
Debevoise Women's Review