Saturday, February 1, 2014
Volume:
30
Issue:
2
Abstract:
A report of the Stolen Asset Recovery Initiative (StAR)/World Bank/United Nations Office on Drugs and Crime focuses on how the imposition of monetary sanctions through settlements compares to the requirements of the United Nations Convention against Corruption (UNCAC) on the recovery and return of the proceeds of corruption. The report also examines the effect of settlements in developed jurisdictions, especially the United States, upon investigations into corruption in another country. The study concludes that of the nearly $6 billion of money sanctions imposed between 1999 and mid-2012, only about $197 million, or 3.3 percent, has been returned or ordered returned to the countries whose officials were bribed or allegedly bribed.[1]