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HR 5344

Kleptocracy Asset Recovery Rewards Program Act

119th Congress Introduced by Stephen Lynch and 1 co-sponsor

The Kleptocracy Asset Recovery Rewards Program Act incentivizes reporting stolen assets linked to foreign corruption, aiming to recover funds and support victims globally.

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-370.
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Bill Summary · HR 5344

Summary of HR 5344: Kleptocracy Asset Recovery Rewards Program Act

Bill Number: HR 5344
Introduced: September 15, 2025
Status: Reported (Amended) by the Committee on Financial Services (H. Rept. 119-370)
Primary Sponsor: Representative Stephen Lynch (MA-08)
Cosponsor: Representative Zachary Nunn (IA-03)

Purpose and Intent

The Kleptocracy Asset Recovery Rewards Program Act aims to re-establish and extend a rewards program designed to incentivize the identification and recovery of stolen assets linked to foreign government corruption. This initiative is part of a broader effort to combat global corruption and facilitate the return of illicitly obtained funds to their rightful owners.

Key Provisions

  1. Program Establishment:

    • The bill amends the existing Kleptocracy Asset Recovery Rewards Act to transition from a pilot program to a permanent rewards program.
    • The program will incentivize individuals to report stolen assets connected to foreign corruption that are located within the United States or under U.S. jurisdiction.

  2. Duration:

    • The program is set to operate for seven years from the date of enactment, after which it will sunset unless further action is taken.

  3. Funding:

    • Rewards will be funded from the recovered stolen assets, ensuring that the program is self-sustaining.

  4. Amendments:

    • The bill modifies the language of the original pilot program, removing references to the three-year limitation and establishing a more permanent framework.

Background and Need for Legislation

The original pilot program was established in the FY2021 National Defense Authorization Act and was active from March 2022 until it lapsed on January 1, 2024. The need for this legislation arises from the significant global impact of corruption, with estimates suggesting that over $3.6 trillion is lost annually to bribery and corruption worldwide. The program aims to address these issues by facilitating the recovery of assets and punishing corrupt practices.

Impact

  • Beneficiaries: The program is expected to benefit victims of corruption, particularly in developing countries, by returning stolen assets. It also aims to enhance the integrity of U.S. financial systems by reducing the presence of illicit funds.
  • International Cooperation: The program aligns with international efforts, such as the United Nations Convention Against Corruption, to strengthen asset recovery mechanisms and promote accountability among public officials.

Legislative Timeline

  • September 15, 2025: Bill introduced and referred to the Committee on Financial Services.
  • September 16, 2025: Committee consideration and mark-up session held; reported out of committee with a unanimous vote (50-0).
  • November 4, 2025: Reported (Amended) by the Committee on Financial Services and placed on the Union Calendar.

Conclusion

The Kleptocracy Asset Recovery Rewards Program Act represents a significant step toward enhancing the U.S. government's ability to combat corruption and recover stolen assets. By providing financial incentives for reporting illicit funds, the program seeks to create a more transparent and accountable financial environment.

Compiled from official sources — confirm details with the bill’s official record.

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