Author: World Bank
Title: Stolen Asset Recovery (STAR) Initiative: Challenges, Opportunities, and Action Plan
Summary: The theft of public assets from developing countries is a huge and serious problem. While the traditional focus of the international development community has been on addressing corruption and weak governance within developing countries themselves, this approach ignores the other side of the equation: stolen assets are often hidden in the financial center of developed countries; bribes to public officials from developing countries often originate from multinational corporations; and the intermediary services provided by lawyers, accountants, and company formation agents, which could be used to launder or hide the proceeds of asset theft by developing country rulers, are often located in developed country financial centers. The STAR Initiative is an integral part of the World Bank Group's strategy which recognizes the need to help developing countries recover stolen assets. This action plan presented in this report responds to feedback received from consultations with developed and developing countries, as well as lessons from the experience of Nigeria, Peru, and the Philippines.
Details: Washington, DC: The World Bank; Vienna: United Nations Office on Drugs and Crime, 2007. 48p.
Source: Internet Resource
Year: 2007
Country: International
URL:
Shelf Number: 119268
Keywords:
BriberyCorruptionFinancial CrimesMoney LaunderingStolen Asset Recovery |
