Anti-Corruption Efforts Need Boost as Asset Recovery Remains Elusive

======================================================

As the global fight against corruption continues to evolve, experts are sounding the alarm that more policy tools and technical assistance are needed to tackle the complex issue of asset recovery.

New Approaches Show Promise

In recent years, there has been a welcome trend towards the use of non-traditional methods such as settlements, non-conviction asset seizures, and insolvency proceedings. These approaches have shown promise in imposing sanctions for corrupt conduct and recovering stolen assets. For example, settlements have improved effectiveness by streamlining legal processes and timelines involved with full trials.

Limitations of Current Policy Tools

However, while these policy tools have had some success, many experts are aware of their limitations. Standardization of legal procedures is needed to ensure that the settlement process is better understood and to prevent opaque practices that can undermine public trust.

The Need for Transparency and Accountability

The recent SNC Lavalin scandal in Canada serves as a stark reminder of the need for greater transparency and accountability. The company was able to secure a deferred prosecution agreement, avoiding criminal prosecution for foreign bribery offenses. This raises questions about how settlements are reached and whether they are always the most appropriate sanction.

The Challenges of Asset Recovery

Despite some progress, asset recovery remains a significant challenge. According to the World Bank’s Stolen Asset Recovery (StAR) initiative, only modest amounts of stolen assets have been recovered in recent years, despite the presumed magnitude of cross-border corruption funds.

UNCAC and Technical Assistance

To address these challenges, UNCAC Chapter VI focuses on facilitating anti-corruption efforts through training and technical assistance. As of 2019, UNCAC training has been held in 32 countries with attendees from 177 jurisdictions. The UNODC has hosted ten global and seven regional training sessions since the close of the second round of the IRM.

Successes of Technical Assistance

These events have demonstrated a high level of openness to technical advice from UNCAC signatories, with 92% of member parties open to country visits during their reviews. A recent internal review noted that peer-learning has become increasingly important, often resulting in immediate responses to technical assistance needs and the establishment of contacts for future study tours and training opportunities.

Conclusion

As the global anti-corruption community continues to grapple with the complexities of asset recovery, it is clear that more must be done to support countries in their efforts. Greater transparency, standardization of legal procedures, and increased technical assistance are all critical components of a comprehensive approach to tackling corruption.