AsemconnectVietnam - 19-21 November 2014 Manila, Philippines

Despite positive strides made possible by the acceptance of transparency and accountability as hallmarks of good governance, the theft of public assets continues to be a serious problem.

According to the World Bank’s own estimates, corrupt money associated with bribes received by public officials from developing and transition countries is estimated at US$20 billion to US$40 billion per year – a figure equivalent to 20 to 40 percent of official development assistance.
 

Over the past two decades, international awareness of the challenges in the recovery of such assets has been increasing. The United Nations Convention Against Corruption (UNCAC) and several international initiatives on asset recovery, such as the Stolen Asset Recovery (StAR) Initiative, evince the importance that the international community is attaching to this issue.

Source: aseminfoboard.org