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...

Developing countries lose an estimated US$20-40 billion each year through bribery, misappropriation of funds, and other corrupt practices. Much of the proceeds of this corruption find 'safe haven' in the world's financial centers. These criminal flows are a drain on social services and economic development programs, contributing to the impoverishment of the world's poorest countries. Many developing countries have already sought to recover stolen assets. A number of successful high-profile cases with creative international cooperation have demonstrated that asset recovery is possible....

Los paises en desarrollo pierden aproximadamente $ 20-40 mil millones cada ano por causa de sobornos, malversacion de fondos y otras practicas corruptas. Solo una minima parte se recupera. Esta enorme brecha en la recuperacion real de los activos robados apunta a la presencia de importantes barreras que impiden su recuperacion. Con el fin de llenar este vacio, la Iniciativa para la Recuperacion de Activos Robados (StAR) ha lanzado Barreras para la recuperacion de Activos, un analisis exhaustivo de estos impedimentos y su impacto negativo. La cooperacion internacional es fundamental. La...

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 flows of official development assistance. 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...