Freezing, recovering and repatriating stolen assets

Progress on recovering and repatriating stolen assets to developing countries has been modest. OECD countries can do more to signal that asset recovery is a political priority and to put in place the necessary legal and institutional framework to repatriate assets. This means dedicating more resources to legal and technical expertise to handle complex and costly cases involving developing countries. It also means adopting legal best practice, such as allowing for rapid freezing of assets when requested to do so by a foreign jurisdiction directly enforcing foreign confiscation orders allowing for non conviction-based asset confiscation recognising foreign non conviction-based forfeiture orders allowing foreign countries to initiate civil actions in domestic courts and where appropriate, allowing compensation, restitution or other damages to benefit a foreign jurisdiction. In turn, developing countries must make it a priority to engage in effective mutual legal assistance, provide the necessary information to investigating authorities with which they co-operate, and proactively pursue and sanction their nationals implicated in corruption cases.