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The Despot's Guide to Wealth ManagementOn the International Campaign against Grand Corruption$
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J. C. Sharman

Print publication date: 2017

Print ISBN-13: 9781501705519

Published to Cornell Scholarship Online: September 2017

DOI: 10.7591/cornell/9781501705519.001.0001

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In Denial

(p.150) 5 Australia
The Despot's Guide to Wealth Management

J. C. Sharman

Cornell University Press

This chapter considers Australia as a host for the proceeds of foreign grand corruption, and addresses the common instances in which inward corruption flows have attracted scarce publicity and little or no investigation, and where the host country government has been resistant to the idea of tracing, freezing, and returning looted wealth from abroad. People too often hear about the atypical anti-corruption success stories, while the more typical stories of corrupt leaders being able to enjoy their loot undisturbed are overlooked. The chapter argues that this lack of effectiveness is a result of a lack of willingness to take action rather than a lack of capacity. Australia has some of the most powerful applicable laws in the world, more stringent than those available to its American, Swiss, and British counterparts, but the authorities have lacked the inclination to apply them.

Keywords:   Australia, grand corruption, host country, looted wealth, anti-corruption stories, corrupt leaders

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