Last year, the release of the Pandora Papers exposed secret offshore accounts belonging to world leaders, billionaires, and celebrities, and when Russia invaded Ukraine, Western nations responded, in part, with economic sanctions on Russian oligarchs. And, of course, in the US, April is known for Tax Day, which this year falls on April 18. In this episode of Big World, SIS professor Dan Schneider joins us to discuss dirty money and illicit finance in the international system. Professor Schneider first defines the terms “dirty money” and “illicit finance” (1:32). He then shares how widespread this type of corruption is (3:42) and some factors that have led to the rise of illicit finance (5:45). He also describes the current efforts to fight dirty money and illicit finance (7:03) and breaks down how economic sanctions are supposed to impact the individuals on which they’re placed (8:33). What are the dangers of kleptocracy, which is a political system organized around oligarchy, self-dealing, and illicit finance (15:50)? How can governments best tackle illicit flows of money and work to restore the rule of law (18:31)? Professor Schneider answers these questions and explains the difference between unethical and illicit finance, using tax preparation as an example (21:54) and explaining that while something may be legal, that doesn’t mean it’s also ethical. During our “Take Five” segment, Professor Schneider shares the first five things he would do to fight dirty money and corruption, both in the US and the international system (12:30).