We applaud the actions of the Financial Intelligence Unit of Liberia in its designation of Korlane Investments Liberia LLC as a high-risk money laundering shell company. This is a courageous step forward for Liberia in the fight against transnational money laundering. We also commend the Inter-Ministerial Committee for approving these actions.
Recognizing corruption’s ability to corrode democracy, on June 3, 2021, President Biden established the fight against corruption as a core U.S. national security interest. The U.S. Strategy on Countering Corruption, released in December 2021, names curbing illicit finance as an essential pillar: “Corrupt actors and their facilitators rely on vulnerabilities in the United States and international financial systems to obscure ownership of assets and launder the proceeds of their illicit activities.”
We look forward to the implementation of related bold commitments made by H.E. President George Weah in his official statement at the Summit for Democracy: “My government commits to fighting corruption at the highest level … We will propose legislation for the establishment of a dedicated criminal court for the prosecution and convictions of public officials and individuals or institutions engaged in corrupt practices and financial offenses.”Distributed by APO Group on behalf of U.S. Embassy in Liberia.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.