Tag: kleptocracy

Photo Credit: CIPE On May 15, one day after this blog was originally published by the FCPA Blog, Russian lawmakers adopted in the first reading amendments to the Criminal Code to make it a criminal offence to observe sanctions imposed by the United States or other foreign countries on Russian oligarchs and government officials. The… Read More

This blog was originally posted on CIPE’s Development Blog Corruption is detrimental to countries’ economies because it leads to reduced productivity, high unemployment, and poverty. In addition to the economic cost, corruption corrodes democracies by weakening citizens’ confidence in their governments. This distrust and disenfranchisement can drive people to join extremist groups. “In conflict-affected areas,… Read More

Late last week, one of the world’s largest integrated telecommunications services operators, VimpelCom, agreed to pay a $835 million settlement to U.S. and Dutch authorities. The company is accused of paying $114 million to Uzbek president Islam Karimov’s relative, widely believed to be his daughter, Gulnara Karimova. The U.S. Department of Justice (DoJ) claims that… Read More