African countries lose more than $70 billion a year in illicit financial flows, stemming from crime and corruption. Good news is, following the Nigeria example, more and more of them are stepping up their efforts in recovering stolen assets. Here are four examples we think are interesting to look at. Liberia Liberia’s former president Taylor Read more about Africa’s asset recovery spring?[…]
Photo: Accent TV In our last post on Moldova, we talked about how in 2014 Moldovan kleptocrats allegedly stole over a billion dollars through a sophisticated bank fraud scheme. Things do not seem to be going in the right direction since then: the mastermind behind the fraud – Read more about Recovering the Moldovan billion[…]
Moldova – Europe’s tiny, little known and poorest country – has arguably become a giant of corruption and money laundering in the past ten years. Research indicates that the country landed in the hands of powerful kleptocrats – above all, Vladimir Plahotniuc – who were able to take control of most public institutions, making the Read more about Europe’s forgotten corruption heaven: Moldova[…]
Nigeria is likely one of the most politically active countries worldwide in its efforts to recover its assets looted through corruption. The current government of Muhammadu Buhari has particularly put the fight against corruption in Nigeria and the recovery of stolen assets at the forefront of its political agenda. Over the past three years, the Read more about Asset recovery in Nigeria: the good and the bad[…]
CiFAR travelled to Nigeria last June to understand what civil society is doing to recover Nigerian stolen assets and to connect with them. It was a very inspiring experience to see many people who have no fear to raise their voice on how asset once stolen by corrupt officials and returned to Nigeria belong to Read more about How Nigerians are raising their voice on asset recovery[…]
One could argue that former Ukrainian president Yanukovych is a model case for major public asset theft, how to profit from the secrecy of the global financial system and on the failures and hurdles in recovering those assets. Money, money, money, money While credible estimates are as always difficult, if not impossible to make, it Read more about A model case of public asset theft?[…]
After Hosni Mubarak was released from prison in March 2016 and the EU extended for another year the freeze of his and his family’s assets, what will happen to his billions? CiFAR had a chat with the French news outlet BFM Business. You can read the interview in French at this link. Read more about The future of Mubarak’s assets[…]
It was the anger against the widespread corruption of Mubarak’s regime that brought millions of Egyptians on the streets in early 2011. In the aftermath of the revolution, Egyptians put a lot of hopes that they would get back the billions of Euros stolen by Mubarak and his family to invest them in building Read more about Egypt’s (modest) efforts to bring back Mubarak’s billions[…]
Many people are discussing passionately what the Trump era will look like. We should ask ourselves: what will happen to US policies on recovering stolen assets? Will the US administration continue in its anti-corruption efforts worldwide? Although we should wait to see what happens, the premises are far from promising. Many have criticised the conflicts Read more about Making asset recovery great again[…]
