Few and Far
The Hard Facts on Stolen Asset Recovery
Corruption has a devastating impact on developing and transition countries, with estimates
of $20 billion to $40 billion per year stolen by public officials, a figure equivalent
to 20 to 40 percent of official development assistance flows. The return of the proceeds
of corruption— asset recovery—can have a significant development impact. Returns can
be used directly for development purposes, such as improvements in the health and
education sectors and reintegration of displaced persons, with additional benefits
of improved international co-operation 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, Ghana,
in 2008, and in the Fourth High Level Forum on Aid Effectiveness: Partnership for
Effective Development, held in Busan, Republic of Korea, in 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.
Drawing on data collected between 2006 and 2012, the report provides recommendations
and good practices, and suggests specific actions for development agencies. Few and
Far is primarily intended to support the anti-corruption and asset recovery efforts
of developed and developing jurisdictions, with a particular focus on actions for
development agencies. In addition, civil society organisations engaged in governance
and development issues may wish to use these findings and recommendations in their
reports and advocacy efforts.
Published on September 11, 2014