It is estimated that 1 trillion US$ illegally flows out of developing and emerging countries per year, instead of being invested into sound infrastructure, education and health systems. In 2017 a landmark decision of a French court revealed the lavish fortune of the Vice-president of Eq. guinea highlighting the need to increase the control of outflows in Africa and inflows in Europe. Even though efforts to trace confiscate and return stolen assets have risen significantly since the entry into force of the UN Convention against Corruption, the amounts returned to victim states still are vanishingly small. As acknowledged in the Financing for Development discourse, accelerating asset recovery bears a significant potential for Domestic Resource Mobilization and can help to finance the implementation of the Sustainable Development Goals. In the proposed panel, CSOs representative and activists will talk about the impact of an emblematic case such as the one of Eq. Guinea in citizen’s lives. Kenyan and Indonesian law enforcement practitioners and CSOs will exchange on best practices including policy approaches and legislative measures to improve asset recovery. The role of CSOs in ensuring safeguards to prevent new illegal flows and monitor the return of the assets will be also object of discussion as well as the best practices from Indonesia from law enforcement point of view.
ANGLE TO CORRUPTION:
Corruption is one the most important sources of the illicit financial flows undermining the trust into the state institutions and Rule-of-Law principles as well as hindering inclusive growth and sustainable development. UNCAC prescribes the fundamental principle of returning stolen assets and the key role of CSOs in preventing and eradicating corruption. A key anti-corruption tool would benefit from an open exchange between practitioners and CSOs. Effective asset recovery acts as a clear sanction and as a deterrent for future corrupt officials.
TARGET AUDIENCE:
Anti-corruption and asset recovery practitioners, other financial investigators from developing, emerging and developed countries, national policy makers, NGOs as well as national and international donor agencies.
WHAT IS THE INVISAGED IMPACT & HOW WILL YOU FOLLOW UP:
The workshop will give insights on the importance of asset recovery laying out the impact examples and most recent national and international experiences in recovering and returning stolen assets compare and analyze the pros and contras of different approaches. It aims at inspiring active exchange and producing further searching questions to foster the current asset recovery discourse.
The session report will be publish on the GIZ Intranet News side; also on EGJustice website and network and TI networks on Asset recovery; key messages of the workshop will be fed into the social media like Facebook and Twitter including the partner institutions.
Session Rapporteur:
Lucas Olo Fernandes
