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U.S. anti-money laundering regulations are outdated and ill-equipped to counter emerging threats in the globalized financial system. For the most part, they do not apply to key segments of the economy including law, incorporation services, and real estate, creating loopholes for unscrupulous professionals to help launder the illicit funds of kleptocrats and other criminals.

To the detriment of U.S. foreign policy, these gaps have enabled kleptocracy and in turn, strengthened authoritarianism, state failure, civil unrest, and social degradation across the world. Money Laundering for 21st Century Authoritarianism, a new report from �����'s Kleptocracy Initiative, investigates the inner workings of a shadowy financial system that is outstripping U.S. law enforcement and provides a call to action against a grave threat.

On December 1, ����� hosted a discussion with Ben Judah, co-author of the report, Raymond Baker of Global Financial Integrity, Charles Davidson of �����’s Kleptocracy Initiative, Gary Kalman of the Financial Accountability and Corporate Transparency Coalition, and Brady Jay Olson of the FBI's Transnational Organized Crime Section.