The U.S. Government started to call out Russian oligarchs as kleptocrats. On 2 March 2022, the U.S. Government announced the multilateral enforcement taskforce KleptoCapture, FinTelegram reported. As part of the effort to target the Oligarchs a/k/a kleptocrats, the U.S. Treasury also launched the Kleptocracy Asset Recovery Rewards Program (KARP).
The program offers up to $5 million rewards for information leading to seizure, restraint, or forfeiture of assets linked to foreign government corruption, including the Government of the Russian Federation. The U.S. government has also provided 28 names of Russians that they are particularly interested in receiving information. On 16 March 2022, the U.S. Financial Crimes Enforcement Network (FinCEN) issued a second alert on the importance of identifying and quickly reporting suspicious transactions involving real estate, luxury goods, and other high-value assets of sanctioned Russian elites and their family members and those through which they act (collectively, “sanctioned Russian elites and their proxies”).
Individuals with information are encouraged to contact Kleptocracy_Rewards@Treasury.gov or call +1 202-622-2050.
The U.S. Congress established KARP to fight foreign government corruption, identifying and recovering stolen assets, forfeiting proceeds of corruption, and, where appropriate and feasible, returning those stolen assets or proceeds to the country harmed by the acts of corruption.
The U.S. Treasury Department manages KARP in close cooperation with the Departments of Justice with the mission to serve as a force-multiplier for existing rewards programs targeted at a variety of illicit finance threats.
