The problem of returning assets transferred to foreign jurisdictions to the national economy is extremely urgent.
A significant share in the total amount of funds withdrawn from the country is made up of proceeds from crime, including as a result of corruption. These funds are invested in movable and immovable property, securities and other financial instruments, placed in accounts with foreign banks. A large part of them settle in offshores – states and territories that represent a preferential tax regime, as well as the ability to hide the source of the acquisition of funds and not declare them in the country of origin.
The magnitude of the problem is evidenced by research by the Stolen Asset Recovery Initiative (StAR) of the World Bank and the United Nations Office on Drugs and Crime, according to which corruption drives between $ 20 billion and $ 40 billion annually from developing countries.
Today, a comparative legal analysis of international treaties and national regulatory legal acts on the procedure for the return of stolen assets is required.
The Institute is working on studying international practice, the activities of international organizations and looking for possible ways to resolve issues related to the recovery of stolen assets, which should facilitate the recovery of stolen assets.