Doha, December 18 (QNA) - Participants at the 11th session of the Conference of the States Parties (CoSP) to the United Nations Convention against Corruption (UNCAC) discussed international efforts to recover illicit assets, underscoring the need to strengthen cross-border cooperation and harmonize legal and operational frameworks.

During the fourth day of the conference, speakers highlighted the latest report issued by the United Nations Office on Drugs and Crime (UNODC), describing it as a key reference for enhancing the international community’s understanding of practical cooperation mechanisms and asset preservation.

They noted that outcomes from periodic review meetings have demonstrated the effectiveness of implementation plans aimed at reinforcing legislative, operational, and coordination measures under the Convention.

Participants stressed that enforcing proceeds-of-crime legislation, alongside the effective use of mutual legal assistance in criminal matters, remains a cornerstone of national and international asset recovery efforts.

They also emphasized the importance of strengthening financial intelligence frameworks and regulations on anti-money laundering and counter-terrorism financing, in line with international standards.

The discussions underlined the value of exchanging expertise among countries and asset management offices to improve transparency and operational efficiency in handling recovered assets. Speakers agreed that asset recovery is a shared global responsibility, given that illicit funds are often transferred across borders through highly globalized financial systems.

Participants called for a multi-layered approach that enhances access to beneficial ownership information, improves banking transparency, and activates mutual enforcement mechanisms.

They further stressed the need for robust corporate disclosure systems to accelerate asset recovery and ensure that anti-corruption measures translate into tangible economic and social justice.

The role of digital transformation was also highlighted, with experts noting that e-government, automated procurement systems, and electronic auctions contribute to stronger oversight and sustainability. In addition, the use of advanced technologies such as artificial intelligence, big data analytics, and blockchain was seen as increasingly critical in tracing and valuing assets, including digital assets.

Experts concluded by emphasizing the importance of secure information-sharing platforms and the reinvestment of confiscated assets in public-interest sectors such as education, prevention, and social protection, ensuring that asset recovery delivers visible and lasting benefits to communities. 

Participants noted that successful asset recovery requires close coordination among all relevant stakeholders, including judicial authorities, financial institutions, law enforcement agencies, and international organizations, supported by a flexible legal framework capable of responding to emerging challenges.

They emphasized that strong and effective international cooperation depends on strict adherence to national laws and international conventions, the removal of legal and procedural obstacles, and sustained political will at all levels.

Discussions highlighted the importance of applying strategic analysis models and operational planning throughout all stages of asset recovery, from asset identification to confiscation and repatriation, while integrating data from multiple sources to ensure accuracy and efficiency.

Speakers agreed that an integrated approach enables faster, more adaptive responses and supports the sustainable achievement of anti-corruption objectives.

Strengthening institutional frameworks for managing recovered assets, including clear policies, procedures, and practical guidelines, was seen as essential to maximizing returns and enhancing transparency and operational efficiency.

Participants stressed the need for continuous monitoring, regular evaluation of best practices, and ongoing engagement with international expertise to improve institutional performance.

They also pointed to the growing challenges posed by crypto-assets and digital assets, calling for clear legal and regulatory frameworks, enhanced technical capacities to trace and monitor such assets, and strict compliance by financial service providers with international standards.

Addressing these challenges proactively, participants said, strengthens the effectiveness of asset recovery efforts and protects financial markets from abuse.

They underlined that asset recovery extends beyond legal and technical measures to include comprehensive risk management, strategic planning, and the building of strong regional and international partnerships.

Such partnerships were described as vital for information exchange, accelerating recovery processes, and maximizing the social and economic impact of recovered assets.

Participants further noted that practical experience has demonstrated the importance of linking strategic planning with on-the-ground implementation and harmonizing procedures across institutions to avoid duplication and ensure efficiency.

This integration, they said, allows for precise tracking of recovered assets and full alignment with international standards and domestic legal requirements.

They concluded that asset recovery remains one of the most powerful drivers of anti-corruption efforts, and that developing robust asset management systems, strengthening international cooperation, and leveraging modern technology, anchored in transparency and accountability, are key to delivering effective and sustainable outcomes that advance economic and social justice at both national and global levels. (QNA)