ASSET RECOVERY
Definition
The legal process of a country, government and/or its citizens to recover state resources stolen through corruption by current and past regimes, their families and political allies, or foreign actors.
Example in practice
- In February 2009, the Swiss courts ruled that US$ 6 million in assets allegedly stolen by former Haitian President Jean-Claude Duvalier and held in Switzerland’s banks should be returned to the island nation after the account holders failed to prove that their funds were acquired ‘legitimately’
- See also our Chiluba Story which cites the UK court's seizure of former President of Zambia's home as proceeds of crime.
- In Trinidad and Tobago it is reported that the Government has recovered over 33 million USD of stolen monies from the Piarco Airport Development Project.
Relevant links
—— The Camden Assets Recovery Inter-Agency Network (CARIN).
www.europol.europa.eu/publications/Camden_Assets_Recovery_Inter—Agency_Network/CARIN_Europol.pdf
—— International Centre for Asset Recovery: Basel Institute on Governance.
www.baselgovernance.org/icar/
—— UNODC: Open-ended International Working Group on Asset Recovery.
www.unodc.org/unodc/en/treaties/CAC/working-group2.html
—— World Bank: Stolen Asset Recovery (StAR) Initiative.
http://siteresources.worldbank.org/NEWS/Resources/Star-rep-full.pdf
Posts
No comments:
Post a Comment