In the months before he was elected president, Joe Biden made a solemn vow: A Biden administration would crack down on international corruption and the illicit economic activity it triggers.

“I will issue a presidential policy directive that establishes combating corruption as a core national security interest and democratic responsibility,” the then-candidate wrote in Foreign Affairs. “And I will lead efforts internationally to bring transparency to the global financial system, go after illicit tax havens, seize stolen assets, and make it more difficult for leaders who steal from their people to hide behind anonymous front companies.”