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

Yeh Stuart S. ()
Additional contact information
Yeh Stuart S.: University of Minnesota-Twin Cities, Minneapolis, USA

The Law and Development Review, 2021, vol. 14, issue 2, 633-664

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.

Keywords: corruption; money laundering; terrorist financing; international public law; rule of law (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1515/ldr-2021-0049 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:lawdev:v:14:y:2021:i:2:p:633-664:n:12

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/ldr/html

DOI: 10.1515/ldr-2021-0049

Access Statistics for this article

The Law and Development Review is currently edited by Yong-Shik Lee

More articles in The Law and Development Review from De Gruyter
Bibliographic data for series maintained by Peter Golla ().