Abstract
Corruption is the abuse of entrusted power for private gain. Corruption holds back economic development, prevents a free market from operating for businesses and consumers, and further exploits already marginalized groups. Economist Daniel Kaufmann has estimated that 2 percent of global GDP is lost to bribery alone every year. But these corrupt proceeds may not be gone forever—nations can use asset recovery to fight corruption, restoring stolen funds to the people for sustainable development and deterring further corruption. The international framework governing such cooperation is laid down in the 2003 United Nations Convention Against Corruption (UNCAC), which went into force in 2005. Despite the great advances in international efforts to recover assets from corrupt officials since the UNCAC went into effect, there is still much work to do. These challenges can impede justice in many corruption cases. This book offers a rarely used way to recover the proceeds of corruption insolvency proceedings—thus contributing to the development of an additional tool for the realization of the UNCAC’s principle on asset recovery.
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