Group of 20 Summit Next Week
TI for quick repatriation of stolen assets
The global anti-corruption coalition Transparency International (TI) called upon governments of different countries to expedite the decision-making process regarding repatriation and management of stolen and frozen assets.
The TI members from more than 100 countries called on the forthcoming Group of 20 Summit, scheduled to be held in Seoul, South Korea, this week, to address the issues without further delay.
It also called on the governments to providing accurate information to recover stolen assets and called for greater action from the international community to tighten money-laundering laws, said a press release.
"We are reminding the governments and financial institutions of host countries of stolen assets that failure to act honestly and transparently against spoils of corruption in their territories flowing from developing countries is unacceptable," said Dr Iftekharuzzaman, executive director of TI-Bangladesh.
"Such failure means that they are in reality contributing to the protection and promotion of corrupt practices in developing countries", added Dr Iftekhar, also a member of the international Board of Directors of TI.
The delegates also urged the governments to ensure safety and security for journalists and anti-corruption activists. The demands were made in the Bangkok Declaration adopted unanimously at TI's annual membership meeting held in Bangkok from November 7 to 9.
Vice-Chair of the TI Board of Directors Akere Muna said, “The recommendations emphasize how important stolen assets, if promptly repatriated, are for development and explicitly address the inadequate way in which frozen assets are currently being managed.”
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