The crypto industry has exploded in recent years, and authorities in different countries have been reacting in very different ways. Some have banned cryptocurrencies, while others are embracing them to varying degrees. Some are working hard to align their anti-money laundering regulations with FATF standards, while others are turning a blind eye. A few countries have confiscated huge quantities of crypto assets linked to crime and money laundering.
This case study describes the background, legal strategy and conclusion of a landmark case of non-conviction based confiscation in Peru that has enabled the successful confiscation of around one million dollars linked to terrorist financing.
The case relates to Nelly Marion Evans Risco, a British-Peruvian woman known popularly as “The Nun”. Evans held funds in a bank account in Switzerland that were intended to finance the Shining Path terrorist organisation, whose violent acts in the 1990s were responsible for an estimated 60,000 deaths in Peru.
Technical assistance from the Basel Institute on Governance in a landmark case of non-conviction based confiscation in Peru has enabled the successful confiscation of around one million dollars linked to terrorist financing.
This collection of short cases on corruption in the infrastructure and urban development industries illustrates key operational challenges companies may face and how organizations can respond.
The report is part of the Building Foundations Against Corruption project, which aims to foster CEO and government collaboration to build a framework for open and transparent business practices.
This publication was produced by the World Economic Forum in collaboration with Deloitte.
Before the adoption of UNCAC, there was no policy or international legal framework guiding the disposal and monitoring of repatriated assets. As a result, there were no globally accepted rules to follow when repatriating confiscated assets to requesting countries.
Even after the adoption of UNCAC, global practice regarding the disposal of repatriated assets remains unclear. Indeed Article 57 (5) of UNCAC does not provide clear guidance in relation to the final disposal of confiscated assets.
This case study pertains to an assessment conducted by the Basel Institute on Governance, in collaboration with UNDP’s Global Anti-Corruption Initiative (GAIN), of a social accountability monitoring project in the municipality of San Miguel, Bohol in the Philippines.
The aforementioned project, called Bayaniham Undertaking Living in a Healthy and Organised Neighborhood or BULHON sa Panguma (BULHON), involves the monitoring of agricultural subsidies and was developed and implemented by the Government Watch (G-Watch) programme of the Ateneo School of Government in Manila.