Combining Tax and Financial Crime Prosecution in an Interagency Asset Recovery Strategy

Brun, Jean‐Pierre; Soto, Yara Esquivel; Gomez, Ana Cebreiro; Julien, Rita; Owens, Jeffrey; Rao, Siddhesh; Ndubai, Joy Waruguru

doi:10.1596/978-1-4648-1873-8_ch3

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“…Corruption offences and related money laundering may in principle fall within this scope, however, the main focus is not on combating these types of offences. It should be noted that varying types of “unexplained wealth order” (UWO) are in use in many jurisdictions, not only for anti-corruption purposes, but also in broader strategies to combat serious crime (Booz Allen Hamilton, 2012; Transparency International, 2015; Brun et al , 2023).…”

Section: Recent Developments In Eu Law Regarding the Concept Of “Unex...mentioning

confidence: 99%

Recent developments in EU anti-corruption strategy: the missing element of the return of corrupt assets to “victim countries”

Ochnio

2024

JMLC

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Purpose Recent developments in the EU’s anti-corruption strategy have brought the EU closer to meeting the UNCAC’s objectives, i.e. the Proposal for a Directive on combating corruption (2023) and the Proposal for a Directive on Asset Recovery and Confiscation (2022). This paper aims to discuss these developments from the perspective of the UNCAC, to identify missing elements in the EU’s asset recovery mechanisms. Design/methodology/approach Critical approach towards EU anti-corruption policy (discussing the problems and solutions). Review of EU developments in asset recovery law. Findings There is a political will on the part of the EU to fight corruption through the rules enshrined in the UNCAC. However, improving EU law by introducing a new type of confiscation of unexplained wealth and criminalising illicit enrichment, without establishing convergent rules for the return of corrupt assets from EU territory to the countries of origin, cannot be seen as sufficient action to achieve the UNCAC’s objectives. In modelling mechanisms of the return of assets, the EU should search for solutions to overcome the difficulties resulting from the ordre public clause remaining a significant factor conditioning mutual legal assistance. Originality/value This paper discusses the possible input of the EU, as a non-State Party to the UNCAC, to advance implementing the UNCAC solutions on asset recovery by establishing convergent rules for the return of corrupt assets from EU territory to countries of origin.

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Section: Recent Developments In Eu Law Regarding the Concept Of “Unex...mentioning

confidence: 99%

Recent developments in EU anti-corruption strategy: the missing element of the return of corrupt assets to “victim countries”

Ochnio

2024

JMLC

View full text Add to dashboard Cite

show abstract

Combining Tax and Financial Crime Prosecution in an Interagency Asset Recovery Strategy

Cited by 1 publication

References 0 publications

Recent developments in EU anti-corruption strategy: the missing element of the return of corrupt assets to “victim countries”

Recent developments in EU anti-corruption strategy: the missing element of the return of corrupt assets to “victim countries”

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