INTERNATIONAL, EUROPEAN AND NATIONAL DEVELOPMENTS IN ASSET RECOVERY
INTERNATIONAL, EUROPEAN AND NATIONAL DEVELOPMENTS IN ASSET RECOVERY

Summary/Abstract: If offered the option, we would all prefer a world free of corruption. The United Nations Convention Against Corruption sets the stage for a remarkable progress in the international fight against corruption: it establishes an innovative architecture of legal, institutional and operational measures aimed at materializing the return of assets obtained through corrupt practices and moved across jurisdictions. Nevertheless, an analysis of the asset recovery practice on the international scene, reveals an obvious trend towards the negotiation of settlements in the foreign bribery cases – which although efficient in terms of time, raises several concerns regarding negative implications for international cooperation in criminal matters and fairness towards the countries whose officials have been bribed. A next step of the international community in the fight against corruption should be the design and implementation of a clear legal framework for the negotiation of such settlements and the destination of recovered assets.

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