On Tuesday, a bipartisan bill was introduced by Congressmen Stephen F. Lynch (D-MA) and Keith Rothfus (R-PA), that would help U.S. authorities combat terrorist financing and foreign government corruption. The Kleptocracy Asset Recovery Rewards Act (H.R. 5101), would establish a rewards program for whistleblowers who notify the U.S. government of assets in U.S. financial institutions that are linked to foreign corruption, allowing authorities to recover and return these assets and prevent further enabling of foreign corruption and terrorist financing.
The bill is modeled on existing successful U.S. programs that reward those who come forward to report fraud and aims to help return assets stolen from foreign state coffers, by encouraging whistleblowers to talk to US authorities. The bill would allow the Department of Treasury to grant asylum and monetary awards to whistleblowers who provide information about stolen foreign government assets that are stored in the US.Read more here.