Non-Conviction Based (NCB) asset forfeiture is a powerful tool for recovering the proceeds and instrumentalities of corruption, particularly in cases where the proceeds are transferred abroad. A procedure that provides for the restraint, seizure, and forfeiture of tainted assets without the need for a criminal conviction, it can be critical when the wrongdoer is dead, has fled the jurisdiction, or is immune from prosecution features common in cases of grand corruption. A growing number of jurisdictions have established a system to allow NCB forfeiture. In addition, NCB forfeiture has been...

In recent years, revelations of grand corruption and the plunder of state assets have led to greater scrutiny of financial relationships with politically exposed persons (PEPs)--senior government officials and their family members and close associates. Notwithstanding the efforts by many financial institutions and regulatory authorities to prevent corrupt PEPs from entering and using the financial system to launder the proceeds of corruption, there has been an overall failure in the effective implementation of international standards on PEPs. Implementation of an effective PEP regime is a...