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Lawmakers and experts press for renewed asset recovery, enforcement of transparency rules and targeted sanctions
Summary
Sen. Sheldon Whitehouse told the Helsinki Commission that the ability of kleptocrats to hide assets behind U.S. shell companies is a national security problem and urged full enforcement of transparency laws.
Sen. Sheldon Whitehouse argued at the Helsinki Commission hearing that corruption and the ability of kleptocrats to hide assets in American‑registered shell companies pose a strategic threat to U.S. interests in Eastern Europe. "Kleptocracy is on the march in Eastern Europe," Whitehouse said, and he described bipartisan efforts—such as the Corporate Transparency Act (CTA)—as essential to transparency.
Whitehouse told the commission the Biden‑era Treasury proposal to limit CTA reporting to foreign…
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