{"title":"APUNCAC: An International Convention to Fight Corruption, Money Laundering, and Terrorist Financing","authors":"Stuart S. Yeh","doi":"10.1515/LDR-2021-0049","DOIUrl":null,"url":null,"abstract":"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.","PeriodicalId":43146,"journal":{"name":"Law and Development Review","volume":"13 1","pages":"633 - 664"},"PeriodicalIF":0.4000,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"6","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Law and Development Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1515/LDR-2021-0049","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"LAW","Score":null,"Total":0}
引用次数: 6
Abstract
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.
期刊介绍：
Law and Development Review (LDR) is a top peer-reviewed journal in the field of law and development which explores the impact of law, legal frameworks, and institutions (LFIs) on development. LDR is distinguished from other law and economics journals in that its primary focus is the development aspects of international and domestic legal orders. The journal promotes global exchanges of views on law and development issues. LDR facilitates future global negotiations concerning the economic development of developing countries and sets out future directions for law and development studies. Many of the top scholars and practitioners in the field, including Professors David Trubek, Bhupinder Chimni, Michael Trebilcock, and Mitsuo Matsushita, have edited LDR issues and published articles in LDR. The journal seeks top-quality articles on law and development issues broadly, from the developing world as well as from the developed world. The changing economic conditions in recent decades render the law and development approach applicable to economic issues in developed countries as well as developing ones, and LDR accepts manuscripts on law and economic development issues concerning both categories of countries. LDR’s editorial board includes top scholars and professionals with diverse regional and academic backgrounds.
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