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Date: April 30, 2024 Tue
Time: 1:24 am
Time: 1:24 am
Results for stolen assets
2 results foundAuthor: de Willebois, Emile van der Does Title: The Puppet Masters: How the Corrupt Use Legal Structures to Hide Stolen Assets and What to Do About It Summary: Corruption is estimated to be at least a $40 billion dollar a year business. Every day, funds destined for schools, healthcare, and infrastructure in the world’s most fragile economies are siphoned off and stashed away in the world’s financial centers and tax havens. Corruption, like a disease, is eating away at the foundation of people’s faith in government. It undermines the stability and security of nations. So it is a development challenge in more ways than one: it directly affects development assistance, but it also undermines the preconditions for growth and equity. This report, The Puppet Masters, deals with the corporate and financial structures that form the building blocks of hidden money trails. In particular, it focuses on the ease with which corrupt actors hide their interests behind a corporate veil and the difficulties investigators face in trying to lift that veil. It serves as a powerful reminder that recovering the proceeds of corruption is a collective responsibility that involves both the public and private sector. Law enforcement and prosecution cannot go after stolen assets, confiscate and then return them if they are hidden behind the corporate veil. All financial centers and developed countries have committed, through the UN Convention against Corruption and international anti-money laundering and countering the financing of terrorism standards, to improving the transparency of legal entities and other arrangements. This StAR report provides evidence of how far we still have to go to make these commitments a reality. Narrowing the gap between stated commitments and practice on the ground has a direct impact on actual recovery of assets. Details: Washington, DC: The International Bank for Reconstruction and Development / The World Bank, 2011. 284p. Source: Internet Resource: Accessed October 26, 2011 at: http://www1.worldbank.org/finance/star_site/documents/Puppet%20Masters%20Report.pdf Year: 2011 Country: International URL: http://www1.worldbank.org/finance/star_site/documents/Puppet%20Masters%20Report.pdf Shelf Number: 123150 Keywords: CorruptionFinancial CrimesMoney LaunderingPolitical CorruptionStolen Assets |
Author: Gray, Larissa Title: Few and Far: The Hard Facts on Stolen Asset Recovery Summary: Corruption has a devastating impact on developing and transition countries, with estimates of $20 billion to $40 billion per year stolen by public officials, a figure equivalent to 20 to 40 percent of official development assistance flows. The return of the proceeds of corruption - asset recovery - can have a significant development impact. Returns can be used directly for development purposes, such as improvements in the health and education sectors and reintegration of displaced persons, with additional benefits of improved international cooperation and enhanced capacity of law enforcement and financial management officials. This StAR-OECD publication reports on how OECD countries are performing on asset recovery. Drawing on data collected between 2006 and 2012, the report provides recommendations and good practices and suggests specific actions for development agencies. Few and Far is primarily intended to support the anti-corruption and asset recovery efforts of developed and developing jurisdictions, with a particular focus on actions for development agencies. In addition, civil society organizations engaged in governance and development issues may wish to use these findings and recommendations in their reports and advocacy efforts. Details: Washington, DC: The World Bank, 2014. 96p. Source: Internet Resource: Accessed September 12, 2014 at: https://star.worldbank.org/star/sites/star/files/few_and_far_the_hard_facts_on_stolen_asset_recovery.pdf Year: 2014 Country: International URL: https://star.worldbank.org/star/sites/star/files/few_and_far_the_hard_facts_on_stolen_asset_recovery.pdf Shelf Number: 133288 Keywords: CorruptionFinancial CrimesStolen AssetsWhite-Collar Crimes |