Kenya's Ethics and Anti-Corruption Commission (EACC) has recovered 19 corruptly acquired assets worth KES 2,730,571,000 (over USD 27 million) in the first four months of 2019 alone. The assets – a mix of cash and landed properties, including a fire station, Kenya Railways land and a beachfront property – are being returned to the public treasury, along with significant fines paid by individuals convicted of corruption and bribery.
The Framework for the Return of Assets from Corruption and Crime in Kenya (FRACCK), agreed and signed by the Governments of Kenya, Jersey, Switzerland and the UK in 2018 with support from the Basel Institute's International Centre for Asset Recovery (ICAR), is already generating strong interest for its "innovative" and "novel" approach to asset return.
These were the words of Brigitte Strobel-Shaw, Officer-in-Charge of the Corruption and Economic Crime Branch of the UNODC, during a May 7-9 International Expert Meeting on the Return of Stolen Assets.
Social network analysis (SNA) can help us to better understand and tackle the transnational organised crime and dark networks that sustain corruption, money laundering and illicit trafficking.
Experts from the Basel Institute’s International Centre for Asset Recovery and country office in Peru conducted a Financial Investigations and Asset Recovery training workshop in Quito, Ecuador from 6–10 May 2019.
The High Court of Piura in northwestern Peru has announced it will set up a specialised courts for cases of non-conviction-based forfeiture.
We are delighted that a judge trained by the Basel Institute's International Centre for Asset Recovery and the Subnational PFM Programme, Dr. María Elizabeth Olaya Escobar, has been appointed to the new Piura court.
From the Taliban in Southwest Asia to al Shabaab in the Horn of Africa to drug-trafficking organizations in Mexico, the behavior, capabilities, and ultimate success or failure of terrorist, criminal, and other transnational threats are closely tied to economic and financial factors.
Understanding Terrorist Finance provides powerful new insights into the financial and economic realities of terrorist groups. Dispelling popular myths, the book presents the first unified coherent framework for the systematic analysis of terrorist finance and includes empirical studies of the financing of groups in Europe, Africa, South Asia, and the Middle East.
So what is intelligence in a nutshell?
Intelligence is simply the systematic collection, processing and analysis of information to understand a specific topic or threat. Decision-makers and other stakeholders can then use that knowledge to decide how to act in order to reach their goals.
It’s less about James Bond and more about drafting reports, evaluating data, mining databases and investigating complex trails of transactions and other relevant connections.
We have just published our 28th Working Paper on a topic that is concerning AML, FinTech and RegTech professionals, finance professionals and law enforcement agencies worldwide - as well as ordinary citizens who wish to take advantage of new payment methods.
Cryptocurrency regulations are developing fast. Across the world, authorities are reacting to the emerging threat posed by criminals using new payment methods to conceal and launder the proceeds of their crimes.
However, as the application of anti-money laundering/combating the financing of terrorism (AML/CFT) due diligence requirements becomes stricter and more entities implement preventative measures, criminals are constantly looking elsewhere for potential havens for their illicit activities.