1 Towards A Global Architecture for Asset Recovery November 2009.

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Presentation transcript:

1 Towards A Global Architecture for Asset Recovery November 2009

The Asset Recovery Agenda Legal Framework Asset Recovery Process Financial Center Initiatives Proceeds of Corruption International Cooperation Monitoring Progress

3 Putting in place the legal framework  Integrated approach, focus on proceeds of corruption  Criminalization  UNCAC framework,  Money laundering  Asset recovery tools  Criminal forfeiture  Non-conviction based forfeiture  Civil proceedings  Enforcement of foreign judgments  Consultative process

4 Supporting the asset recovery process  Building effective teams, for: leadership, information exchange, accountability for results  Ad hoc / permanent teams  Operational support for national authorities  Investigators, Incident Response Teams (Corruption)  UMBRA, information exchange and analysis on corruption cases  Legal representation Core Prosecutors / Attorney General Police / Investigators Central Authority for legal cooperation Solicitor General Key Agencies Financial Intelligence Unit Audit Authority Anti-Corruption Body Tax Authorities Ministry of Finance

5 Taking Initiative in Financial Centers The Tools  Spontaneous information exchange  Administrative / judicial freezing orders  Pursuing the bribe giver (and bribe taker?) sanctions, profits & punitive damages  Pursuing foreign corruption, using money laundering & organized crime and other domestic offenses The Means  Policy on tackling foreign corruption  Resources and mandate for law enforcement  Specialist foreign corruption units : leadership, resources, accountability for results  Information exchange, cooperation with investigations incl. civil proceedings

6 Tackling the Proceeds of Corruption  Target the laundering of the proceeds of corruption through the anti-money laundering (AML) regime :  Assess risks related to domestic and foreign proceeds of corruption;  Draw on UNCAC to strengthen AML standards (predicate offenses, politically exposed persons);  Implement AML standards on customer due diligence – including politically exposed persons – and beneficial ownership  Coordinate between AML and Anti-Corruption activities

7 Strengthening Cooperation  International standards, guidance and tools supporting streamlined procedures  Signposting appropriate gateways for formal cooperation & access to procedural information;  Use of alternative, informal channels  Supporting informal networks Challenges in Dual Criminality Non-conviction based forfeiture Illicit enrichment

8 Monitoring progress and feedback  Monitor progress in establishing legal and institutional framework for asset recovery. UNCAC, FATF  Report on the level of asset recovery activity: how many cases? how much returned? OECD DAC  Generate feedback from asset recovery cases, to inform standards and practice. OECD, FATF  Communicate success stories!

The Asset Recovery Agenda Legal Framework Integrated Approach Criminalization Asset recovery tools Asset Recovery Process Multi-Agency Teams Operational Support Investigation and information Financial Center Initiatives Policy on Foreign Corruption Dedicated teams Legal initiative, ML / organized crime / bribery Proceeds of Corruption Assessing risks proceeds of corruption Strengthen standards (UNCAC link) AML and AC coordination International Cooperation Signaling for formal cooperation Streamlining procedures Informal channels, networks Monitoring progress Feedback for practitioners and policy makers Quantitative information on progress Success stories

10  Political commitment critical  Communicating success mobilizes political support  Success = cases won + development & governance impacts What drives asset recovery?