| dc.description.abstract | The paper discusses the impediments inherent in using anti-corruption laws to
repatriate stolen assets to the victim state. It examines both state laws and the
international legal frameworks aimed at overcoming these obstacles. The assets
in question are accrued by public officials from the proceeds of corruption,
money laundering, tax avoidance and other forms of illicit financial transactions
in countries where they have been hidden. While less developed countries are
often the countries of origin, destination countries of stolen assets tend to be
developed Western countries. There is ample evidence showing that the recovery
and repatriation of stolen assets to countries of origin is more easily said than
done, given the barriers they face. Victim states not only suffer a loss of revenue
as a result of economic criminality, but they also incur huge expenses in
attempting to recover criminal assets, without any guarantee that they will
succeed in doing so. In essence, this article looks into the generic issues related to
asset recovery. It examines the approaches adopted by both common law and
civil law jurisdictions in Africa with respect to the repatriation of stolen assets,
and explores the practicality of harmonising anti-corruption laws across the
African continent, as has been done amongst member states of the European
Union. | en_US |
