Transnational Assets Recovery

 Transnational Assets Recovery
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Abstract
The aim of the paper is to evaluate the concept of transnational asset recovery in the third
states along with mutual legal assistance. For this purpose, the United Nations Convention
against Corruption has been used because transnational asset recovery is the imperative
process that states have to implement. In order to assess the aim and objectives, the previous
studies has been used in the paper so that an overview of the research that has been conducted
in the study is achieved. Moreover, two important cases that are Marco and Abacha have
been discussed in the results section, which is determining the process, and obstacles that
their nation had to face in the process of transnational asset recovery. Therefore, based on the
literature and results, it is concluded that transnational asset recovery is the imperative
process that can be executed by considering United Nations Convention against Corruption. 
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Table of Contents
Abstract...................................................................................................................................................1
Chapter 1: Introduction ...........................................................................................................................5
Background.........................................................................................................................................5
Aim and Objectives.............................................................................................................................8
Research Questions.............................................................................................................................8
Significance of the Study ....................................................................................................................8
Dissertation Structure..........................................................................................................................9
Chapter 2: Literature Review................................................................................................................11
Overview of United Nations Convention against Corruption...............................................................11
Addressing Asset Recovery Obstacles through UNAC....................................................................13
Legal Framework for Mutual Legal Assistance............................................................................13
Dissimilarity between Legal Structures........................................................................................15
Responsibility to Forbid................................................................................................................16
Projected Repatriation...................................................................................................................17
Non-Conviction Based Confiscation ............................................................................................18
Exploitation of Lawful Remedies by the Holders of the Assets...................................................19
Efficient Response to Freezing and Seizing Requests..................................................................19
Comprehensive Statue of Restriction............................................................................................20
Fishing Expeditions and Banking Privacy ....................................................................................20
Formation of Specialised Bodies ..........................................................................................................21
Resources Preparation and Expertise................................................................................................22
Money Laundering Preventative Structure .......................................................................................22
Political Obligation ...........................................................................................................................23
Types of Tool for Asset Recovery ........................................................................................................24
Criminal Forfeiture ...........................................................................................................................24
Civil Non-Criminal Based Forfeiture ...............................................................................................24
Administrative Freezing and Confiscation Measures .......................................................................27
Fines that Match to the Value of the Benefit ....................................................................................27
International Structures and Political Measures related with Asset Recovery......................................28
2000/2003 UN Palermo Convention..........