Leading international law enforcement agencies such as Europol tell us that corruption has become one of the most vital enablers of serious organised crime and financial criminality – and a problem that touches not only so-called ‘high risk’ emerging markets, but developed societies too. With illicit funds looted from the developing world ending up as assets in North America, Europe and Asia-Pacific, there is an increasing recognition that some of those we have relied upon to be the guarantors of fairness and the rule of law might also have been tainted by knowingly handling of the proceeds of crime.
One of the leading voices in the campaign against this growth of global corruption is Bill Browder, author of Red Notice, and the founder of Hermitage Capital Management. In 2009, Browder’s Russian lawyer, Sergei Magnitsky, was killed in a Moscow prison after exposing a US$230 million fraud by Russian government officials; in response, Browder has conducted a global campaign to impose visa bans and asset freezes on corrupt officials and human rights abusers alike, known as ‘Magnitsky-style sanctions,’ due to his efforts.
In this session, Browder will be interviewed by Oliver Bullough, journalist and author of the best-selling Moneyland, a book which touches upon many of the same themes as Browder’s own work. Together, they will map the virus-like spread of corruption, the challenges of tackling the problem in an environment of declining trust, and consider the effectiveness of the current remedies being promoted – including Magnitsky sanctions – in addressing the problem.