Asset Recovery articles

How could asset recovery work for Lebanon?

How could asset recovery work for Lebanon?

Reading Time: 5 minutes Each year, developing countries lose between $20 to $40 billion due to bribery, misappropriation of funds, and other corrupt practices. These criminal acts drain economic development initiatives, contribute to further impoverishment, and come with other societal costs, such as the negative impact on education and public health services. One way of combating these practices is

How Lebanon can learn from other countries’ experiences with asset recovery

Reading Time: 5 minutes Recovering assets corrupt officials have stolen while in government service is a critical part of a government’s fight against corruption. First of all, it deters corruption. If those who would steal from the public while ostensibly serving it know they have little chance of keeping what they take, they will be less tempted to steal

Does Lebanon need a special anti-corruption court?

Reading Time: 3 minutes In June, Parliament’s Anti-Corruption Subcommittee began discussing the establishment of a special court on financial crimes. Its proposed jurisdiction ranges from counterfeit and forgery of money and documents to bribery and abuse of power by public officials on active and former duty. Such a scope of offenses would fall under what we at the U4

Lebanon could utilize unexplained wealth orders to recover stolen assets

Reading Time: 4 minutes Asset recovery requires global cooperation. According to the Stolen Asset Recovery (StAR) Initiative database, in 2018 the approximate amount of stolen funds that have been frozen, confiscated, or returned to affected countries since 1980 equals $8.2 billion, involving over 50 requesting and over 40 requested jurisdictions. These numbers, however, pale in comparison to the estimates