From Sanctions to Investigations: Legislative, policy and practical tools to investigate the origins of sanctioned assets
The full report contains a discussion on importance of linking the imposition of sanctions to the opening of investigations into the origins of sanctioned wealth. It also includes detailed description of the situation across eight jurisdictions (Canada, France, Germany, Italy, Spain, Switzerland, the UK and the US) and a look into cross-border initiatives.
Effectively addressing illicit financial flows depends on anti-corruption investigations and asset recovery. Our report, From Sanctions to Investigations, provides an examination of the intersection of sanctions and anti-corruption investigations, and highlights the critical legal and policy frameworks that govern this process.
Asset Recovery: A multidimensional approach
Asset recovery, which includes the freezing, seizure, forfeiture and confiscation of assets, is a central tool in the fight against corruption. This report provides a much needed link in the discussion between sanctions and anti-corruption investigations and asset recovery.
Russian Sanctions: A case study
The Russian invasion of Ukraine has highlighted the importance of effective sanctions and the recovery of illicit assets. Our analysis highlights the innovative responses and political resolve that have emerged in this context, providing insights into asset recovery mechanisms that can go beyond current discussions and look at other sanctions regimes, particularly anti-corruption sanctions.
Comparing legal frameworks
By analysing the legislative approaches of eight key jurisdictions, the report highlights the diversity of asset recovery strategies and the potential for harmonisation of legal tools. This comparative analysis is essential for policymakers to understand the diversity of approaches and the importance of international cooperation in asset recovery.
Challenges in asset recovery
The report also identifies the challenges governments face in moving from asset freezing sanctions to asset recovery, drawing lessons from the Arab Spring and Russian sanctions. It highlights the need for innovative policies and practices to effectively trace and recover assets.
In sum
This report demonstrates the need for policymakers to assess and strengthen the tools available for asset recovery in the context of sanctions. It invites a thorough consideration of anti-corruption strategies with a view to strengthening measures against illicit financial flows.