This session examined the management of proceeds of corruption and crime as a vital element of asset recovery. It highlighted lessons from national experiences in Nigeria and the Seychelles and explored challenges linked to the seizure, confiscation and management of cryptoassets, with a case example from Romania.

Discussions emphasised that successful asset recovery, particularly in cases involving cryptocurrency, depends on a multi-faceted approach combining international cooperation, national coordination and cross-agency collaboration, alongside professional development for prosecutors and investigators.

Participants were encouraged to make use of available resources from the OSCE, International Association of Prosecutors and Basel Institute on Governance.

The session underscored the importance of having an asset recovery strategy from the outset of investigations to maximise opportunities to identify, freeze and confiscate illicit assets.

It also addressed the need for prosecution offices to develop asset management systems that balance resources, legislative frameworks, training needs, victims’ rights and mechanisms for managing cryptoassets.

This special event took place in hybrid format at the 11th Conference of the States Parties to the UN Convention Against Corruption in Doha, Qatar. It was co-organised by the Basel Institute on Governance, International Association of Prosecutors (IAP), Nigeria; OSCE and the StAR Initiative.

Speakers

• Shenaz Muzaffer, General Counsel, International Association of Prosecutors (moderator)
• Erlin Agich, Associate Anti-Corruption Office, Economic Governance Unit, OSCE Secretariat
• Mark Carroll, Prosecution Advisor, Anti-Corruption Commission Seychelles
• Arina Corsei–Vultureanu, Prosecutor, Head of Cybercrime Service, Directorate for Investigating Organized Crime and Terrorism, Romania
• Beatrice Jedy-Agba OON, Solicitor General of the Federation, Nigeria
• Vickie Poussou, Director of the Asset Management Unit, Ministry of Finance, Economic Planning, Trade and Investment, Seychelles

Useful resources

• Decoding crypto crime – A guide for law enforcement | OSCE
• OSCE project on virtual assets
• Quick guide to managing seized and confiscated assets, by Rita Simões
• Global experts advance the joint fight against crypto-enabled crime – joint press release from the 9th Global Conference on Criminal Finances and Cryptoassets by the Basel Institute on Governance, Europol and UNODC
• Crypto: the ultimate enabler of corruption? by Monica Guy and Alex Donciu