Blogs

China prioritizes asset recovery in APEC - Star's Perspective

Tuesday, March 4, 2014

By Tunc Uyanik, Director, Financial and Private Sector Development, East Asia and Pacific Region and Financial Systems Global Practice, World Bank

Getting the measure of asset recovery

measure asset recovery
Wednesday, December 18, 2013

 

Today the OECD has released a report measuring how its member countries are performing in their efforts to stem illicit financial flows (IFF).  While much attention is likely to focus on the chapters discussing money laundering, tax evasion and bribery - the main sources of illicit financial flows - the report features an important discussion of the other side of the equation: how are OECD countries performing in returning illicit financial flows?

Counting the cost of corruption - a week at a time...

stop corruption
Monday, December 9, 2013

 

1. Africa loses US $50 billion a year from illicit financial flows, according to Thabo Mbeki former South African President and current Chairman of the International High Level Panel on Illicit Financial Flows.

2. In 2013, Lebanon returns US $28.8 million from the Beirut account of the wife of the deposed former President of Tunisia after StAR facilitated specific contacts between Lebanese and Tunisian authorities.

Settling with Justice

Tuesday, November 26, 2013

Settlements in cases of foreign bribery cases are big news and growing.  More and more countries are allowing these procedures, and their law enforcement agencies are using them forcefully in their efforts to combat foreign bribery. The FCPA, which came into law in the US over thirty five years ago, has paved the way for many other countries to adopt similar legislations, in line with far reaching international agreements such as the OECD Anti-Bribery Convention. These are very welcome developments, which should continue unabated.

(A bit of) Everything you've wanted to ask about the Arab Forum but were afraid to ask

Wednesday, November 6, 2013

The Second Arab Forum on Asset Recovery (AFAR II) has been taking place in the Moroccan city of Marrakesh. Bringing together approximately two hundred participants from over forty countries, AFAR II gathers policy makers, legal practitioners, financial investigators and senior government officials to find solutions to the challenges of recovering stolen assets for the benefit of transition countries. AFAR II has been hosted by the Kingdom of Morocco and co-organized with the United Kingdom in its role as 2013 President of the G-8.

Tearing down the walls of corporate secrecy – the G8 leads, but will it follow up?

Thursday, June 20, 2013

The move was momentous and, until a few weeks ago, quite unexpected. In a push to tear down the walls of corporate secrecy, the G8 has just committed to ensuring that each of its members will have immediate access to the identity of the so-called “beneficial owner” - the individual who ultimately pulls the strings behind companies- in their jurisdiction.

Bringing the banks to account

Tuesday, February 5, 2013

It began as a trickle but has turned into a flood. HSBC, Barclays, Wachovia, JP Morgan, and UBS have all been engulfed by waves of scandal involving, money laundering, fixing interest rates, risky trades, and rigging the money markets. The question now is – have the banks gone bad?

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