- Thu, 30 March 2023
The Stolen Asset Recovery Initiative (StAR) is a partnership between the World Bank Group and the United Nations Office on Drugs and Crime that supports international efforts to end safe havens for corrupt funds. StAR works with developing countries and financial centers to prevent the laundering of the proceeds of corruption and to facilitate more systematic and timely return of stolen assets.
StAR is financed by the World Bank and UNODC. Contributors to StAR's Multi Donor Trust Fund include Norway, Sweden, Switzerland, France, the United Kingdom and Netherlands. In addition, UNODC has received contributions for its support to StAR from Australia, Canada, France, Germany, Luxembourg, Norway, UNDP, United Kingdom and the United States of America.
StAR's work is built on four key pillars:
- StAR helps countries establish the legal tools and institutions required to recover the proceeds of corruption. It helps them develop the specific skills needed to pursue asset recovery cases, through sharing knowledge and information, and providing hands-on training in asset tracing and international cooperation on legal matters. StAR helps countries apply these tools and skills by facilitating contacts between jurisdictions in support of asset recovery cases.
- StAR works with and helps bring together governments, regulatory authorities, donor agencies, financial institutions, and civil society organizations from both financial centers and developing countries, fostering collective responsibility and action for the deterrence, detection and recovery of stolen assets.
- StAR generates knowledge on the legal and technical tools used to recover the proceeds of corruption, promoting the sharing of global best practices.
StAR advocates for the strengthening and effective implementation of Chapter 5 of the UNCAC and other international standards to detect, deter and recover the proceeds of corruption. Working with global forums such as the Conference of States Parties to the UNCAC and its asset recovery working group, the Financial Action Task Force, and other multinational bodies, StAR fosters collective global public action and helps countries implement agreed standards.
source==> Stolen Asset Recovery Assistance (StAR)