FCPA and National Security Series

December 1, 2022 1:15pm

Andrew Adams
Director, Task Force KleptoCapture
U.S. Department of Justice

David C. Rybicki
Partner
K&L Gates LLP

Leo Tsao
Partner
Paul Hastings LLP

PART II:
Task Force KleptoCapture: Enforcing Sanctions, Export Restrictions and Economic Countermeasures Levied Against Russian Officials and Oligarchs.

On March 2nd, the DOJ announced the creation of the interagency Task Force KleptoCapture (the Task Force) to enforce the sanctions, export restrictions, and economic countermeasures against Russian officials and oligarchs in response to the conflict in Ukraine. The formation of the Task Force follows an increased awareness of the destabilizing threat of kleptocracies to national security, as outlined in a June 2021 White House National Security Memorandum that established the fight against corruption as a core national security policy.

The Task Force works cooperatively with the transatlantic task force that President Biden, leaders of the European Commission, France, Germany, Italy, the United Kingdom, and Canada announced in February. Where violators cannot be detained, assets will be seized and forfeited; and information will be shared with foreign partners to further assist with the identification and recovery of assets abroad.

In this session, our panel of exports will discuss the resources and tools that the Task Force is leveraging for enforcement, such as:

  • Access to advanced investigative tools:
    • Data analytics
    • Cryptocurrency tracing
    • Foreign intelligence sources
    • Information from financial regulators and private sectors partners
  • Coordination with the recently established National Cryptocurrency Enforcement Team
  • Enhanced subpoena authority under the recently enacted Anti-Money Laundering Act of 2020