Testimony of Sheila Krumholz
Executive Director of the Center for Responsive Politics
Before the
United States Senate Committee on the Judiciary
Combating Kleptocracy: Beneficial Ownership, Money Laundering, and Other Reforms June 19, 2019
Federal campaign finance law prohibits foreign nationals from directly or indirectly engaging in activity to influence U.S. elections. This ban broadly extends to foreign governments, foreign political parties, corporations, associations, foreign partnerships, and foreign citizens with the exception of those holding dual U.S. citizenship and "green card" holders admitted as lawful permanent residents of the United States.…
While the prohibitions on foreign nationals spending or engaging in activities connected to influencing U.S. elections may be the letter of the law, foreign kleptocrats represent an increasingly dangerous threat to our political system. This is especially true given insufficient U.S. oversight of hidden entities such as shell companies and lack of beneficial ownership disclosure requirements, leaving the individuals or interests behind those groups unknown to the public.…
History provides us with many examples of illegal donations by foreign corporations and nationals laundering money through those who are legally eligible to contribute – evasions that have eroded public trust in the system. Among the most troubling are campaign finance violations that involved attempts by foreign individuals, corporations, and even governments to influence electoral outcomes.
And, oh yeah, lots more, here: http://bit.ly/2ZIOvjY
