Policy Brief 14: Targeting unexplained wealth: Implications of the EU’s 2024 Directive on asset recovery

Monica Guy

Senior Specialist, Communications and External Relations
+41 61 205 55 12
hide: Biography

The European Union’s 2024 Directive on Asset Recovery and Confiscation obliges Member States to, among other things, introduce legislative measures to enable the confiscation of “unexplained wealth”.

This policy paper examines Article 16, which contains this obligation, and the powers and restrictions that Member States will need to include in such “unexplained wealth” measures to ensure compliance with the Directive.

Basel Institute newsletter - November 2024

Monica Guy

Senior Specialist, Communications and External Relations
+41 61 205 55 12
hide: Biography

The newsletter covers highlights at the Basel Institute from early October 2024 to late November 2024. It also features our latest news, blogs and other publications. We take this chance to welcome three new staff members to the team.

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Happy holidays!

Dear colleagues, partners and friends,

As the year comes to a close, we want to thank you for being an invaluable part of our journey to promote good governance and fight corruption worldwide.

2024 was marked by the tragic loss of our long-time Managing Director, Gretta Fenner. We are deeply grateful to all who shared tributes and messages of condolence. Your support has been a source of strength, helping us continue and expand our work and impact in honour of Gretta's legacy.

El desmantelamiento de la recuperación de activos en el Perú: Un llamado a la cautela y a la construcción de consensos en torno al Proyecto de Ley 3577-2022

El Basel Institute on Governance, como entidad internacional dedicada a promover la buena gobernanza y a combatir la corrupción, ha seguido de cerca los avances legislativos en materia de recuperación de activos en el Perú y en América Latina.

Corporate disclosure on anti-corruption and ESG: three innovative approaches

Twenty-five years after the OECD Anti-Bribery Convention came into force, companies are facing an increasingly complex regulatory landscape, not only on anti-corruption but also sustainability.

In this blog, Vanessa Hans sheds light on recent corporate disclosure regulations and how companies can better meet stakeholders’ reporting expectations.

Malawi recovers Cashgate property using non-conviction based forfeiture

Congratulations to our partners at the Anti-Corruption Bureau and the Office of the Director of Public Prosecutions in Malawi for achieving the final forfeiture of a house linked to the infamous Cashgate corruption scandal.

A decision by the Supreme Court to reject an appeal against the forfeiture order sends an important message about ending impunity for high-profile corruption.

The James Stone case: Peru’s fight to recover assets (The Academy Bulletin)

Communications Team

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In an article published in the Fall 2024 issue of the Bulletin of the International Academy of Financial Crime Litigators, Oscar Solórzano describes an asset recovery case between Peru and Luxembourg involving a businessman named James Stone.

EU closes sanctions loophole and validates the confiscation of proceeds of sanctions violations

A recent judgment of the Court of Justice of the European Union (CJEU) addresses two significant weaknesses in the effectiveness of EU sanctions enforcement.

First, it makes it clear that an EU-wide ban on “brokering services” for military goods to or from Russia applies even when these goods do not physically enter EU territory.

How targeting maritime corruption can save and generate millions annually

An interview with Martin Benderson by Nicolas Hocq.

Maritime corruption poses significant challenges to global trade, inflating costs, delaying operations and undermining integrity in supply chains. The Maritime Anti-Corruption Network (MACN), a leading international Collective Action initiative, has been at the forefront of addressing these issues through collaboration with governments, businesses and civil society.