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APUNCAC: An International Convention to Fight Corruption, Money Laundering, and Terrorist Financing

Author

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  • Yeh Stuart S.

    (University of Minnesota-Twin Cities, Minneapolis, USA)

Abstract

This article explains how corruption, money laundering, and terrorist financing could be addressed through an Anticorruption Protocol to the United Nations Convention against Corruption (APUNCAC). APUNCAC seeks to establish United Nations inspectors, dedicated anticorruption courts, and aggressive measures to fight corruption, including requirements to obtain and report accurate beneficial owner information when funds are transmitted internationally. This information is needed to deter money laundering. APUNCAC would allow private litigants to commence a Racketeer Influenced and Corrupt Organizations (RICO) civil action and recover three times the amount of their damages. These provisions create financial incentives for private litigants to fight corruption through civil actions. The provisions leverage private interests and align these interests in the fight against corruption. APUNCAC also includes treaty provisions designed to ensure that APUNCAC is implemented as intended. This article addresses the issue of complementarity. APUNCAC is designed to complement, rather than replace, existing domestic institutions.

Suggested Citation

  • Yeh Stuart S., 2021. "APUNCAC: An International Convention to Fight Corruption, Money Laundering, and Terrorist Financing," The Law and Development Review, De Gruyter, vol. 14(2), pages 633-664, June.
    • Handle: RePEc:bpj:lawdev:v:14:y:2021:i:2:p:633-664:n:12
    DOI: 10.1515/ldr-2021-0049
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    Cited by:

    1. Stuart S. Yeh, 2023. "The Anticorruption Protocol to the United Nations Convention against Corruption Beneficial Owner Rule," Laws, MDPI, vol. 12(6), pages 1-133, October.

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