The Dollar Purge Under the Global Corruption & Dollar Sanitization Act

Abstract

In April 2025, the United States enacted the Global Corruption Accountability & Dollar Sanitization Act, signalling a major shift in its strategy to combat illicit dollar holdings. The rationale behind this move is multifaceted. They include the need to curb tax evasion, money laundering, and financial crimes. The U.S. is collaborating with Interpol, FATF, and global whistleblower networks to identify and intercept unregistered cash flows in high-risk jurisdictions. Significantly, legislative action may be driven by the urgent need to counter the erosion of dollar hegemony under the SWIFT platform and surge toward financial digitization trends.