The Asset Recovery Handbook that the Stolen Asset Recovery (StAR) Initiative of the WB Group and the United Nations Office on Drugs and Crime released on Friday also offers ways to close this gap.[break]
The handbook states that the process of recovering stolen assets is complex and requires coordination between many public agencies in multiple jurisdictions. It also suggests practitioners to exchange sensitive information with partners in other countries to trace stolen funds and gather evidence.
The practitioners must also be familiar with a wide range of legal tools and procedures for freezing, seizing, and repatriating stolen funds, says a press statement, citing the handbook.
“The 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,” the statement quoted Jean Pierre Brun, WB Senior Financial Sector Specialist, as saying.
“A practical guide can help these states navigate the process, anticipate challenges, and determine and implement effective strategies.”
The handbook, prepared by an international team of experts, draws on the experience of a wide range of countries and legal traditions. Designed as a quick reference, it describes approaches to recovering proceeds of corruption located in foreign jurisdictions, identifies the difficulties that practitioners are likely to encounter, suggests strategic and tactical options to address the challenges, and introduces good practices.
It also provides reference tools, case studies, and practical resources such as sample intelligence reports, applications for court orders, and mutual legal assistance requests.
The handbook could also be helpful to those making policy decisions about legislation and management of resources devoted to fighting corruption.
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