Financial Transparency Coalition

On Sunday, US Attorney General Eric Holder delivered a promissory gem to the leaders gathered in Uganda, the pearl of Africa. It was not a pledge of more foreign aid for the continent – which has tripled since 2000 – but it could bring billions of dollars to Africa:

“ I’m pleased to announce that the U.S. Department of Justice is launching a new Kleptocracy Asset Recovery Initiative aimed at combating large-scale foreign official corruption and recovering public funds for their intended – and proper – use:...

On Sunday U.S. Attorney General Eric Holder announced the Kleptocracy Asset Recovery Initiative at the African Union Summit in Uganda. The new policy aims to take on public bribes by recovering public money and returning it to its intended use. While the Obama administration has, so far, shown a greater propensity to tackle the thorny problem of foreign bribery than his recent predecessors, the new policy does not exist in a historical vacuum. In fact, the U.S. has had one of the world’s longest and strongest histories of action against foreign bribery. This is...