Kleptocracy (/klɛpˈtɒkrəsɪ/) is a form of government in which those in power use their position to steal or exploit national resources for personal gain.
Kleptocratic rulers often treat their country’s treasury as a source of personal wealth, spending funds on luxury goods and extravagances as they see fit. Many kleptocratic rulers secretly transfer public funds into hidden personal accounts in foreign countries to provide for themselves if removed from power.
According to L.K. Samuels, one reason governmental bodies subscribe to theft-prone policies is to lay the groundwork for the socialization of labor and property, thus permitting kleptocrats to make a populace “subservient to an institutionalized authority.”