This case study describes how Switzerland is putting to test a rarely used but powerful law in order to confiscate assets connected to Ukraine’s 2014 Revolution of Dignity, with the aim of returning these to Ukraine.

Key points:

Practically every country has a Financial Intelligence Unit (FIU) and it plays a vital role in combating money laundering and other financial crimes. Yet there is often confusion – even among anti-corruption authorities – about how it works, what it can and can’t do, and what value it brings. 

Thierry Ravalomanda, Senior Asset Recovery Specialist offers a quick overview.

Sophisticated and complex financial crimes span the globe. “Following the trail of the money” can involve many jurisdictions, each with their own laws and practices, and varying capacity or willingness to cooperate internationally.

Fighting corruption and money laundering, and recovering criminal proceeds, are therefore complex challenges. Specialised legal, financial accounting, analytical and investigation skills are essential.

This Working Paper aims to contribute to the international policy dialogue on the link between asset recovery and countries’ pursuit of the Sustainable Development Goals.

It contends that supporting countries in recovering stolen assets and promoting sustainable development are mutually reinforcing. It also aims to correct the false reputation of asset recovery as a very technical legalistic field of development cooperation, and to generate broader understanding of the far-reaching role that asset recovery can play to foster development.

Asset recovery refers to the process by which the proceeds of crime are identified, traced, seized, confiscated and returned to their rightful owners. Generally speaking, States need to lead the process of recovering stolen assets. 

However, civil society organisations (CSOs) can play an important role in the different stages of the asset recovery process. 

This guide: