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Asset Recovery Handbook : A Guide for Practitioners - Second Edition (English)

Developing countries lose billions each year through bribery, misappropriation of funds, and other corrupt practices. Much of the proceeds of this corruption find “safe haven” in the world’s financial centers. These criminal flows are a drain on social services and economic development programs, contributing to the impoverishment of the world’s poorest countries. Many developing countries have already sought to recover stolen assets. A number of successful high-profile cases with creative international cooperation has demonstrated that asset recovery is possible. However, it is highly complex, involving coordination and collaboration with domestic agencies and ministries in multiple jurisdictions, as well as the capacity to trace and secure assets and pursue various legal options whether criminal confiscation, non-conviction based confiscation, civil actions, or other alternatives. This process can be overwhelming for even the most experienced practitioners. It is exceptionally difficult for those working in the context of failed states, widespread corruption, or limited resources. With this in mind, the Stolen Asset Recovery (StAR) Initiative has developed and updated this asset recovery handbook, a guide for practitioners to assist those grappling with the strategic, organizational, investigative, and legal challenges of recovering stolen assets. A practitioner-led project, the Handbook provides common approaches to recovering stolen assets located in foreign jurisdictions, identifies the challenges that practitioners are likely to encounter, and introduces good practices. It includes examples of tools that can be used by practitioners, such as sample intelligence reports, applications for court orders, and mutual legal assistance requests.

Details

  • Author

    Brun,Jean Pierre, Sotiropoulou,Anastasia, Gray,Larissa Alanna, Scott,Clive, Stephenson,Kevin Mark

  • Document Date

    2021/01/28

  • Document Type

    Publication

  • Report Number

    154948

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    World,

  • Region

    The World Region,

  • Disclosure Date

    2021/01/28

  • Disclosure Status

    Disclosed

  • Doc Name

    Asset Recovery Handbook : A Guide for Practitioners - Second Edition

  • Keywords

    asset recovery; corruption; stolen assets; Combating the Financing of Terrorism; finance and markets; foreign jurisdiction; mutual legal assistance; civil action; income and asset disclosure; foreign corrupt practices act; Southern and Eastern Africa; international cooperation; provisional measure; financial sector specialist; search and seizure; Politically Exposed Persons; un general assembly; law enforcement agencies; proceeds of crime; Electronic Fund Transfer; common law jurisdiction; recovery of asset; civil law jurisdiction; law enforcement personnel; recommendations for action; investigative technique; Investigation; Legal Vice Presidency; benefit of crime; Clearing houses; internet service provider; civil society support; case management system; law enforcement agents; limited liability partnership; dissipation of asset; international financial flows; value of asset; private investment climate; illicit financial flows; types of asset; ownership of asset; peer review process; common law system; return of assets; law enforcement official; confiscation of property; court proceeding; privileges and immunity; law enforcement authority; legal assistance request; compensation for damage; confiscation order; investigating magistrate; legal system; financial crime; corruption case; foreign counterpart; Financial Stability; civil proceedings; money laundering; first edition; international asset

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Citation

Brun,Jean Pierre Sotiropoulou,Anastasia Gray,Larissa Alanna Scott,Clive Stephenson,Kevin Mark

Asset Recovery Handbook : A Guide for Practitioners - Second Edition (English). Stolen Asset Recovery (StAR) initiative Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/502771607689049444/Asset-Recovery-Handbook-A-Guide-for-Practitioners-Second-Edition