Biden Unveils Plan To Crack Down On Corruption, Tax Havens

By Dorothy Atkins (June 3, 2021, 9:05 PM EDT) -- President Joe Biden issued a memorandum Thursday directing a range of federal government agencies to develop a new strategy for enforcing U.S. anti-corruption laws internationally by cracking down on foreign tax havens and illicit financing, which he said "contribute to income inequality, fund terrorism and generate pernicious foreign influence."

In a national security study memo, Biden declared that combating international corruption is a "core" U.S. national security interest. The president laid out a new strategy that federal agencies should take to bring transparency to the global financial system and to close loopholes that he said allow international corruption to sap between 2% and...

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