Few and far: the hard facts on stolen asset recovery - StAR Initiative

Corruption has a devastating impact on developing and transitional countries. An estimated $20 billion to $40 billion per year are stolen by public officials from developing and transition country jurisdictions, a figure equivalent to 20 to 40 percent of flows of official development assistance. Returning these proceeds of corruption ? asset recovery ? can have a significant development impact. Returns can be used directly for development purposes ? improvements in the health and education sectors, re-integration of displaced persons ? with additional benefits of improved international cooperation and enhanced capacity of law enforcement and financial management officials. Development agencies and those committed to development effectiveness have a role in the asset recovery process. They have made international commitments to fight corruption and recover the proceeds of corruption in the Third High Level Forum on Aid Effectiveness: Accra Agenda for Actions, held in Accra (2008); and Fourth High Level Forum on Aid Effectiveness: Partnership for Effective Development Co-operation in Busan (2011). Despite these efforts, there has been difficulty in translating these commitments into concrete action. This StAR-OECD publication reports on how OECD countries are performing on asset recovery and is intended to support the anti-corruption and asset recovery efforts of developed and developing jurisdictions. Drawing on data collected between 2006 and 2012, the report provides recommendations and highlights good practices and specific actions that development agencies can take. Its findings and recommendations would also be of interest to civil society organizations engaged in governance and development issues.