Systematic corruption and thievery by the state or state-sanctioned corruption
A government whose corrupt leaders use political power to expropriate the wealth of the people and land they govern
Key Feature
No public announcement or legal consequences for misappropriations by kleptocrats
Different from plutocracy and oligarchy; corrupt politicians enrich themselves secretly outside the rule of law
Kleptocracy is a form of government where the ruling class or political leaders systematically exploit their power and authority to accumulate personal wealth and status at the expense of the broader population.

Key Points About Kleptocracy

  • It involves large-scale corruption and embezzlement of public funds by high-level officials for personal enrichment.
  • Political leaders use state resources and institutions as personal wealth-generating mechanisms rather than for public good.
  • It is closely associated with authoritarian regimes and dictatorships where leaders are unaccountable to the people.
  • Kleptocrats often hide their ill-gotten wealth abroad using offshore financial systems and shell companies to obscure the origins.
  • Kleptocracies rely on services provided by other countries like wealth management, real estate, and reputation laundering to legitimize their stolen assets.
  • It undermines good governance, rule of law, and economic development in the affected countries.
  • Kleptocracy has become a transnational phenomenon facilitated by globalization and interconnected financial systems.

So in essence, a kleptocracy is a government controlled by corrupt leaders who use their power to systematically loot public wealth for personal gain, enabled by global financial networks.
Source: https://www.perplexity.ai/search/kleptocracy-is-.RRKZZhXRieOlxVry7hi6A#0

Posted by PMA admin