Recovering corruption proceeds and related issues:
- At a news release, the Organisation for Economic Co-operation and Development notes that in twelve years, French authorities had just five convictions in cases arising out of the bribery of foreign officials. The news release claims that French authorities have a “lacklustre response” to cases involving actual or alleged foreign bribery.
- The Role of Financial Intelligence Units in Fighting Corruption and Recovering Stolen Assets is a white paper provided by The Egmont Group of financial intelligence units. It mentions how government authorities may detect corruption proceeds because of tips / suspicious activity reports, supplied by financial institutions. Page 13 of the paper reveals how illicit assets from a politician’s extortion scheme were uncovered as a result of suspicious activity reports, (i.e “SARs”), generated by three banks:
Copyright 2012 Fred L. Abrams