Asset recovery

Q&A: Why civil society and journalists need asset recovery skills – and how they can gain them

Investigative journalists and civil society organisations are often the first to uncover corruption, suspicious financial flows and hidden assets. But turning those discoveries into successful financial investigations and recovered assets requires specialised knowledge that many practitioners have never had the opportunity to acquire. To help bridge this gap, the Basel Institute's International Centre for Asset Recovery ICAR has developed a new training course on Asset Recovery for Civil Society and Journalists. Combining practical exercises, open-source intelligence techniques and a realistic corruption case simulation, the course equips participants with a deeper understanding of how assets are traced, investigated and ultimately recovered. In this Q&A, ICAR trainers Tom Walugembe and Emmanuel Mringo explain why the training was developed, what makes its approach distinctive, who it is designed for and the impact they hope participants will have after completing it. What specific gap or need led to the development of this course for civil society and investigative journalists? In the past two decades we have seen major financial crime scandals, such as the Panama and Pandora Papers leaks, in which efforts by organisations like the International Consortium for Investigative Journalists ICIJ and the Organised Crime and Corruption Reporting Project OCCRP have led to financial crime investigations and prosecutions. Yet in many parts of the world, journalists and other non-state actors like civil society organisations CSOs are under-equipped with the knowledge of asset recovery processes needed to carry out their core work effectively. For CSOs, that often includes advocacy for policy reform. For journalists, it means evidence-based investigative reporting, as well as the skills to trace illicit financial flows, understand money laundering typologies and gather actionable information whose exposure can trigger financial investigations and lead to the recovery of stolen assets. There is international recognition of their importance in the fight against corruption – e.g., Article 13 of the UN Convention Against Corruption, which requires state parties to take measures to promote the participation of CSOs and individuals in the fight against corruption. But when it comes to investigating and recovering proceeds of corruption, there is little or no targeted training to enable CSOs and journalists to play this role effectively. We developed the course to address these capacity gaps. How does this course fit within and complement ICAR’s wider training and learning offer? This course complements ICAR’s broader training portfolio by broadening its traditional audience. ICAR training programmes focus heavily on law enforcement agencies, prosecutors, financial intelligence units and judicial authorities. This new module extends ICAR’s reach to non-state actors while aligning with ICAR’s uniquely effective methodology and offerings. It also integrates with Basel LEARN, the Basel Institute’s online learning platform, which enables blended learning and pre-course preparation. The course emphasises core ICAR themes, including parallel financial investigations, international cooperation, and asset tracing, freezing and confiscation. And ICAR’s postgraduate programmes on asset recovery? Unlike the ICAR-led Certificate of Advanced Studies CAS programme on Combating Financial Crime Through Asset Recovery, this is a short professional training course rather than a university-accredited academic programme. The CAS programmes, delivered in partnership with the University of Basel, run over six months and require around 300 hours of study. By contrast, this course provides a focused, accessible introduction to asset recovery concepts and practical skills. The aim is to enable individuals to strengthen their contribution to transparency, accountability and anti-corruption efforts without the substantial time commitment of a postgraduate programme. What makes the course’s approach – especially the use of a simulated case and OSINT –distinctive for this audience? Like other ICAR training modules, the course focuses on developing practical skills through the “learn by doing” methodology. Participants do not simply learn theoretical concepts in a classroom setting. Working in teams, they conduct a simulated corruption and money laundering investigation. They learn to follow financial trails wherever they lead, through layers of international banking transactions and the misuse of offshore shell companies. As this audience of CSOs and investigative journalists lacks investigative powers such as accessing bank accounts or searching premises , the course emphasises alternative methods for securing information that could trigger or support financial investigations. These include using access to public information laws and open-source intelligence OSINT . What kind of real-world impact do you realistically hope participants will have after completing the training? First, better investigations. Individuals who complete the course will gain stronger OSINT skills to effectively gather information on financial crime and illicit assets. They will have broader knowledge to detect modern bribery and money laundering schemes. They will understand anti-money laundering frameworks and the meticulous process of conducting financial investigations. They will have greater capacity to analyse financial records, such as bank statements, company documents and procurement records. Second, more objective reporting. The course will expose participants to the practical challenges of financial investigations and asset recovery, including capacity gaps, asset management and slow international cooperation. This will lead to, among other things, more objective press reporting on financial crimes and asset recovery cases. Third, a stronger accountability role. Upon completing the course, participants will also have the broader knowledge needed to report on and follow up on the reuse of recovered assets, ensuring they are used effectively. Fourth, a stronger network. The course will provide a platform to foster better cooperation among CSOs, investigative journalists and law enforcement agencies. It will also foster regional and international cooperation among CSOs and Investigative Journalists. Our dream? That CSOs and journalists go from being external observers and reporters to complementary actors who ensure that financial investigations are effective and transparent, and that stolen assets are quickly detected, traced, seized, well-managed, confiscated, repatriated and deployed to achieve sustainable development. Ambitious, but essential to making a dent in the corruption and financial crime that hinder development and prosperity worldwide. Interested in bringing this training to your organisation or network? The Asset Recovery for Civil Society and Journalists course can be delivered either onsite or online for booked groups of approximately 25–30 participants. It is suitable for national, regional or international audiences and can be tailored to specific contexts and learning needs. For individuals, the course is also offered online as an open enrolment programme, allowing participants from anywhere in the world to join. To learn more or discuss delivery options, contact training@baselgovernance.org.

How will the EU Anti-Corruption Directive affect enforcement against corruption?

What does the EU's new Anti-Corruption Directive actually change, and where does it fall short? This article by Rita Simões of the Basel Institute’s International Centre for Asset Recovery takes a closer look at the final text. She looks at what was adopted, what was left out during negotiations, and what the final text is likely to mean for enforcement across the EU. For a broader reflection on what the directive reveals about changing corruption risks and the future direction of EU anti-corruption policy, see a companion analysis by Dr Jacopo Costa. The European Union EU has adopted and published its Anti-Corruption Directive, concluding a process that began with the Commission’s proposal in May 2023. Its adoption comes amid a broader recalibration of global anti-corruption enforcement, marked by decreased U.S. leadership through the scaling back of Foreign Corrupt Practices Act enforcement and increased expectations for the EU to assume a more central role in global anti-corruption efforts. Following a lengthy negotiation period, the final directive is a compromise between the widely differing levels of ambition reflected in the proposals put forth by the European Parliament and European Commission. It establishes a common baseline of corruption offences, corporate liability rules and jurisdiction, but leaves member states significant discretion to limit the scope of new measures. The final version also omits key provisions relating to political financing, non-trial resolutions and victims’ rights. Therefore, the directive's central achievement is the harmonisation of anti-corruption offences and sanctions. Its central limitation is that it leaves key aspects of enforcement practice largely in the hands of member states. Important changes in criminal law, liability and jurisdiction The directive establishes a detailed enforcement and prevention framework. It requires member states to, among others: - create independent anti-corruption bodies; - adopt national strategies; - conduct sector-specific risk assessments; - provide training for officials; and - use Europol’s SIENA system for information exchange. These measures are complemented by harmonised statistical reporting obligations on investigations, prosecutions and sanctions. On substantive criminal law, the directive introduces a harmonised baseline of corruption offences across member states including domestic and foreign bribery, trading in influence, misappropriation, abuse of functions and obstruction of justice. The directive also requires member states to establish a broad criminal liability regime for legal persons . Under this framework, companies can be held accountable for corruption offences, including those resulting from lapses in senior management supervision. Notably, the directive reinforces this regime through obligating the use of dissuasive measures, such as fines based on global turnover and exclusion from public procurement. The directive also strengthens jurisdictional rules. Member states must assert jurisdiction over offences committed on their territory or by their nationals. Furthermore, a member state can prosecute offences committed abroad without needing the state where the crime occurred to report it first. . How these could help enhance anti-corruption enforcement These measures aim to strengthen the EU’s enforcement capacity by expanding the legal tools available to investigate and prosecute corruption, particularly in cross-border cases. Measures on corporate liability, for instance, will strengthen the ability of member states to address complex bribery schemes involving multinational structures. Similarly, the enhanced jurisdictional rules will enable member states to pursue corruption cases that occurred outside their territory, even where the state in which the corruption took place is unwilling or unable to act. In addition, the institutional and procedural framework – particularly coordination, risk assessments and dedicated enforcement bodies – should strengthen the EU’s ability to prevent, detect, investigate and prosecute corruption. However, enforcement effectiveness will still depend heavily on national implementation capacity and political will. Three missed opportunities: political financing, non-trial resolutions and victim participation Previously identified as areas of significant potential, several key measures proposed by the European Parliament that could have further enhanced enforcement were excluded or significantly watered down in the final directive. Political financing The European Parliament had proposed stronger measures to tackle illicit political financing, including enhanced transparency requirements and potential criminalisation of certain violations. However, member states are only encouraged – not required – to address risks linked to political funding, with no binding obligation to implement transparency measures or criminalise political financing. This leaves the EU without a harmonised framework in this area. This is a critical gap given growing concerns about how illicit funding can distort electoral processes and enable undue influence over public decision-making, both globally and at the European level653631 EN.pdf . Non-trial resolutions Proposed mandatory frameworks for non-trial resolutions in cases involving legal persons, reflecting established practice in jurisdictions such as the United Kingdom, were not retained as binding obligations in the final directive. As a result, this instrument does not establish a level playing field across the EU. This is likely to lead to divergent enforcement approaches, with some jurisdictions relying on negotiated resolutions while others depending on full criminal proceedings. Such fragmentation may weaken the effective imposition of financial sanctions on companies, as well as the recovery of proceeds and their use for compensating victims of corruption or enhance anti-corruption efforts. Victim and public participation in corruption cases The final version of the directive requires member states to grant procedural rights to victims and members of the public affected by corruption offences. But it largely relies on existing EU frameworks and national law, providing participation rights only where they already exist domestically. By contrast, the European Parliament’s proposal was more ambitious: it sought to define these categories explicitly, regulate their procedural rights and grant victims a clear right to compensation. As a result, recognition of victims in corruption cases remains uneven across member states. This approach also may limit victim and civil society participation, despite growing international support for more participatory approaches. Anti-corruption ambition is now up to member states The directive adopts an anti-corruption approach that strengthens enforcement powers while maintaining deference to national legal systems. Its effectiveness will depend heavily on implementation, particularly where it sets only minimum standards or leaves room for national discretion. In practice, this is likely to produce uneven legal frameworks across the EU, shaped more by domestic political will than by EU-led harmonisation. Member states implementing the directive will face a choice: - Should they adhere to the minimum requirements only? - Or take the opportunity to pursue more ambitious anti-corruption reforms, including some of the broader measures originally proposed by the European Parliament? Choosing a more ambitious approach presents an opportunity to lead by example and influence future EU reform.

Basel Institute joins regional effort to strengthen security, justice and development in Latin America

Reducing the economic power of organised crime is essential to improving security, strengthening justice systems and supporting sustainable development across Latin America and the Caribbean. And doing that requires strong and dependable partnerships. Building on more than a decade of support to authorities across the region, the Basel Institute on Governance has formally joined the Alliance for Security, Justice and Development, a regional initiative led by the Inter-American Development Bank IDB . The Alliance seeks to strengthen coordinated responses to organised crime in Latin America and the Caribbean through dialogue, cooperation, knowledge exchange and resource mobilisation. Supporting the fight against illicit financial flows For the Basel Institute and its International Centre for Asset Recovery ICAR , participation in the Alliance represents a further opportunity to contribute its expertise in financial investigations, asset recovery, international cooperation and public financial management while working alongside governments, international organisations and other partners committed to strengthening security, justice and development across the region. Executive Director Elizabeth Andersen signed the declaration formalising the Basel Institute’s participation in the Alliance in Washington, D.C. The signing followed close engagement between senior IDB and Alliance representatives and Oscar Solórzano, Head of ICAR Latin America. Strengthening regional cooperation The Alliance for Security, Justice and Development is a regional platform for dialogue, cooperation, knowledge exchange and resource mobilisation aimed at preventing and responding to organised crime in Latin America and the Caribbean. Coordinated by the IDB through its Citizen Security Division, the Alliance currently brings together 23 member states and multiple strategic partners from the international, development and security sectors. Its work is structured around three strategic pillars: protecting vulnerable communities from organised crime and violence; strengthening institutional resilience within security and justice systems; and reducing illicit financial flows and illicit markets to weaken the operational capacity and influence of criminal organisations. Bringing expertise in asset recovery and financial investigations The Basel Institute will contribute particularly to the third pillar, leaning on the expertise and two decades of experience of its specialised International Centre for Asset Recovery ICAR . Elizabeth Andersen stated that the Basel Institute is honoured to participate in such a high-level initiative focused on issues of critical importance for Latin America and the Caribbean, as well as for the broader international community. Oscar Solórzano highlighted that the Alliance represents an important opportunity to support countries in strengthening asset recovery systems, international cooperation and institutional capacities against increasingly sophisticated forms of organised crime and illicit economies. Building on a decade of support in Latin America Our participation builds on more than a decade of operational and technical support to authorities across Latin America in areas including financial investigations, asset recovery, international cooperation and – through a dedicated programme – public financial management. Activities under the Alliance framework are expected to begin in the region in the coming months, with our teams supporting key initiatives and technical workstreams developed through the Alliance in the years ahead. Our participation reflects our longstanding commitment to helping countries tackle corruption, illicit financial flows and organised crime, and our belief that sustainable impact is achieved through strong partnerships that bring together public authorities, international organisations and practitioners around shared goals.

New training courses expand access to financial investigation and asset recovery skills

The Basel Institute on Governance is expanding its training offer to help more professionals build practical skills in financial investigations and asset recovery. Building on decades of global experience, we are launching new courses for both public-sector practitioners and non-state actors. Our hands-on, case-based training is now accessible to a wider audience than ever before. Reaching new audiences For the first time, our flagship financial investigations and asset recovery training is available as an open enrolment online course for individual public-sector practitioners. We are also expanding our offer for civil society organisations, investigative journalists and other professionals outside government. These groups play a growing role in exposing financial misconduct and supporting accountability. The new courses build on the success of our popular Introduction to blockchain: Crypto investigation and AML compliance course. This course equips participants to tackle the misuse of cryptoassets for financial crime. New course for public-sector practitioners The financial investigations and asset recovery online course is a five-day, instructor-led training for investigators, prosecutors, judges and financial intelligence practitioners. Participants work through a realistic case. They apply practical techniques to follow financial leads across jurisdictions, analyse financial flows, gather evidence using open-source intelligence and develop effective investigative strategies. The first open-enrolment course will take place from 20–24 July 2026. New courses for civil society and journalists We are also launching Asset recovery for civil society and journalists, tailored to non-state actors working to uncover corruption and track public funds. This includes private-sector professionals working in compliance or investigations. Two formats are available: An online course for individual participants, with the first open-enrolment session planned from 2–5 November 2026. A tailored training programme for organisations and groups, delivered on site or virtually. Both formats are built around a realistic corruption case. Participants gain hands-on experience in tracing assets, analysing financial information and understanding how asset recovery works in practice. Part of a wider learning offer These courses complement our broader learning ecosystem. This includes Basel LEARN, our free eLearning platform, and Basel STUDY, our academic programmes. Together, they provide flexible pathways for professionals to build and deepen their expertise. A proven track record The training courses are led by practitioners from the Basel Institute's International Centre for Asset Recovery ICAR . Over the past 18 years, ICAR has trained more than 5,800 practitioners from financial intelligence units, law enforcement, prosecuting and judicial authorities in over 138 countries. An independent study by Fondazione Safe found that our case-based, "learning by doing" approach drives meaningful institutional change and strengthens the effectiveness of efforts to tackle corruption and related crimes. Thierry Ravalomanda, Head of Training at ICAR, explained: “We know from experience that practical, skills-based training makes a real difference in the fight against financial crime. By opening up our flagship courses to individual practitioners and expanding our offer for civil society and journalists, we are helping more people develop the tools they need to trace assets, follow the money and support accountability.” With these new courses, we aim to make our expertise accessible to a broader community working to prevent, detect and address financial crime.

Where asset recovery really happens: Peru advances landmark restitution initiative

These administrative steps are where asset recovery really happens… when dirty assets are transformed into resources that support law enforcement and serve the public good. With these words, Oscar Solórzano, Head of Latin America at the Basel Institute on Governance, captured the often unseen but transformative impact of asset recovery. His remark follows a high-level meeting in Peru marking the final phase of a pioneering international agreement. On 26 March 2026, the Ministry of Justice and Human Rights of Peru hosted the Meeting of the States Parties to the Tripartite Agreement between Peru, Switzerland and Luxembourg on the transfer of confiscated assets. Opened by Minister Luis Enrique Jiménez Borra, the meeting brought together key Peruvian institutions alongside representatives of the Swiss authorities to review progress, assess institutional impact and discuss the next steps towards closure. From frozen assets to public benefit Through this cooperation, assets derived from corruption cases and previously frozen abroad have been returned to Peru and reinvested in strengthening the justice system. Projects funded under the agreement have enhanced the capacity to investigate and prosecute corruption and organised crime, improved coordination between institutions and strengthened mechanisms for asset recovery and asset management. The National Program for Seized Assets PRONABI has overseen the transparent and accountable administration of these funds, ensuring they directly support institutions at the forefront of combating corruption. Highlighting the broader significance of the initiative, Minister Jiménez Borra stated: International cooperation can turn assets derived from corruption into concrete tools for strengthening justice and public integrity. The Tripartite Agreement shows how recovered assets can be reinvested to benefit citizens and strengthen the rule of law. Strong international partnership and Swiss engagement Peru’s tripartite collaboration with Switzerland and Luxembourg has provided a strong framework for cooperation. It demonstrates how countries can work together to return illicit assets in a transparent and impactful way. The Basel Institute on Governance, through its International Centre for Asset Recovery ICAR , has played a central role in supporting implementation by providing technical advice and accompanying institutions throughout the process. Paul Garnier, Ambassador of Switzerland to Peru, noted: This meeting provides an important opportunity to review the current status of the project and the progress achieved so far. Switzerland also values the continued technical support provided by the Basel Institute on Governance throughout the implementation of this initiative. During the technical session, Oscar Solórzano and Límberg Chero, a senior member of the Basel Institute’s Public Finance Management programme in Peru, shared reflections on the implementation, impact and sustainability of the projects. Celso Alfredo Saavedra Sobrados, Executive Coordinator of PRONABI, emphasise that: PRONABI has worked to ensure that the restituted funds are administered with transparency, efficiency and accountability, so that they directly contribute to strengthening the institutions responsible for combating corruption. He also highlighted the close and timely technical support provided by the Basel Institute on Governance during the implementation of the project. Setting a regional example for asset recovery The experience demonstrates how sustained international cooperation, combined with targeted technical support, can ensure that recovered assets deliver tangible benefits for citizens and reinforce the rule of law. It also offers a compelling example for other jurisdictions, showing that asset return can be both practical and impactful when underpinned by trust, transparency and shared objectives. The hope is that this model will inspire further mutually beneficial efforts to return stolen assets and put them to work for the public good.

Case Study 13: The Beauty Queen case: non-conviction based forfeiture across borders