Transparency International adopts declaration calling on governments to act forcefully on stolen and frozen assets

“Countries are experiencing difficulties tracing, seizing, recovering and repatriating assets,” said TI Chair Huguette Labelle. “There has not been sufficient progress on recovering the tens of billions of dollars that have been stolen by corrupt national leaders and deposited in international money centres.”

This declaration was one of three resolutions approved by delegates from more than 100 TI national chapters and individual members of TI at the conclusion of the organisation’s annual membership meeting here.

Delegates voted to call on the Russian law enforcement authorities to protect press freedom and civil society and to investigate all attacks on journalists and activists and prevent future attacks.

The anti-corruption organisation also voted to establish an award in the name of Amalia Kostanyan, the late chair of TI Armenia who died suddenly in September, recognising excellence within the TI community.

The Bangkok Declaration, which was adopted unanimously, calls on governments to respond quickly to requests to provide information to move forward stolen and frozen asset cases. It calls on financial institutions, which do not release frozen assets after they receive a release order to be held legally liable. It also calls for greater action from the international community to tighten money-laundering laws.

TI Vice-Chair Akere Muna said, “The recommendations emphasise how important stolen assets, if promptly repatriated, are for development and explicitly address the inadequate way in which frozen assets are currently being managed.”