World Bank and U.N. Announce Initiative on Stolen Asset Recovery for Developing Countries

On September 17, 2007, the World Bank and the United Nations Office of Drugs and Crime (UNODC) announced an initiative to help developing countries recover assets stolen by corrupt leaders, combat safe havens, and combat tax havens, using the assets to invest in effective development programs. The program, Stolen Asset Recovery (StAR) operates on the idea that both developed and developing countries must work together to prevent and resolve the problem of stolen assets. While developing countries need to improve governance and accountability, developed countries must also stop providing a safe haven for stolen proceeds...[more]