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.”