Asset Recovery
International Center for Asset Recovery
ICAR works with countries around the world to strengthen their capacities to recover illicit assets.
We place particular emphasis on hands-on mentoring on investigation methods and confiscation and prosecution strategies, as well as international cooperation. The aim is two-fold: to build capacity and effectively progress cases to the stage of recovery.
We also:
- support legislative and institutional reform processes;
- develop and deliver tailor-made training;
- work with other international organisations to advance innovation and global policy dialogue on asset recovery.
Our team is made up of former prosecutors, lawyers and (financial) investigators from a wide variety of countries and legal traditions. We don’t speak from text books, but from practice. And we pride ourselves on being driven by, and responding flexibly to, the needs of our partner countries – because there is never a one-size-fits-all solution to asset recovery.
Training programmes
Through customised and interactive training courses, ICAR's expert training team helps practitioners in partner countries develop the skills to investigate and prosecute financial crime and recover stolen assets.
Latest News
Train-the-Trainer programme on financial investigations and asset recovery gets underway in Kosovo
Kosovan financial investigators, police, prosecutors and judges have completed the first phase of an intensive Train-the-Trainer (TTT) programme on financial investigations and asset recovery. Led by our International Centre for Asset Recovery (ICAR) [training team](https://baselgovernance.org/asset-recovery/training-programmes) in conjunction with UNDP and the Kosovo Judicial Academy, the five-phase TTT programme aims to result in four or five ICAR Certified Trainers while simultaneously training other local participants in the process. Following their certification, the Kosovan trainers will go on to deliver the training to their counterparts as a formal part of Kosovo’s judicial training programme. ### Supporting Kosovo’s anti-corruption efforts The five-day training workshop, which took place in Prizren, Kosovo from 16–20 May 2022, was part of the Support to Anti-Corruption Efforts in Kosovo ([SAEK III](https://www.undp.org/kosovo/press-releases/launch-third-phase-undp%E2%80%99s-support-anti-corruption-efforts-kosovo-saek-project-2020-2024)) project of UNDP Kosovo. The Basel Institute is an implementing partner of the project, which seeks to reduce corruption in Kosovo by strengthening monitoring and oversight mechanisms of institutions to perform in an efficient, transparent, accountable and gender-sensitive manner. It is funded by the Swiss Agency for Development and Cooperation (SDC) office in Kosovo and the Swedish International Development Cooperation Agency (SIDA). The TTT programme is an integral part of our efforts to sustainably enhance the capacity of investigators and prosecutors in Kosovo to successfully investigate and prosecute corruption and money laundering cases, and recover assets. It follows a [February 2020 training programme](https://baselgovernance.org/news/kosovan-anti-corruption-officials-explore-new-asset-confiscation-law-during-icar-training) on the same topic, in which the 25 participants were specifically challenged to make use of Kosovo’s recent Law of Extended Powers on Confiscation of Assets. ### Why financial investigations training? A financial investigation is an important tool in detecting money laundering, terrorist financing and other serious crimes, as well as in enabling the freezing, seizure and confiscation of the proceeds of crime. Financial investigation in complex corruption and money laundering cases requires specialist skills and techniques in intelligence gathering, prosecution strategies and asset tracing, among others. Of these techniques, one of the judges at the May 2022 training was particularly complimentary about [Source and Application analysis](https://baselgovernance.org/publications/quick-guide-22-analysing-suspects-financial-affairs-corruption-case), a method to organise and present financial evidence gathered during an investigation in a way that highlights or identifies illicit or unknown income. Putting such skills and techniques into practice requires a thorough knowledge of relevant Kosovan legislation, and a deep understanding of the legal and practical processes and procedures for recovering assets abroad. To tie these elements together, the centrepiece of the ICAR training programme is an extensive hands-on practical exercise in which the participants actually conduct a Kosovo-specific simulated investigation. ### Learn more * Find out about our [ICAR training team](https://baselgovernance.org/asset-recovery/training-programmes) and unique methodology, and download the current brochure in English, Spanish, French and Portuguese. * Learn more about the Basel Institute’s [cooperation with the Office of the Chief Prosecutor of Kosovo](https://baselgovernance.org/news/new-cooperation-kosovos-office-chief-prosecutor-asset-recovery-undp-support) under the SAEK programme. * For a brief introduction to Source and Application analysis, see this [Quick guide to analysing a suspect’s financial affairs in a corruption case](https://baselgovernance.org/publications/quick-guide-22-analysing-suspects-financial-affairs-corruption-case). More in-depth guidance is in the step-by-step [Guide to proving illicit enrichment using financial investigation and Source and Application of Funds analysis](https://baselgovernance.org/publications/proving-illicit-enrichment-using-financial-investigation-and-source-and-application) and our self-paced [eLearning course on Source and Application of Funds analysis](https://learn.baselgovernance.org/course/view.php?id=17), available in English and Ukrainian.
New agreement with Government of Bulgaria to strengthen anti-corruption and asset recovery efforts
The Government of Bulgaria and Basel Institute on Governance have signed a Memorandum of Understanding covering long-term collaboration in the country’s efforts to combat corruption and recover stolen public funds. Through the agreement, the Basel Institute will support the Bulgarian authorities in strengthening the capacity of specialised law enforcement, judicial and other relevant officers to effectively investigate cases of corruption and related financial crime, identify and trace illicit proceeds, and recover them for the benefit of Bulgarian citizens. In addition to training and hands-on technical assistance, ICAR will work with our partners in Bulgaria to review the current anti-corruption chain, illuminate key blockages and structural deficits, and identify potential solutions. Kiril Petkov, Prime Minister of Bulgaria, and Gretta Fenner, the Basel Institute’s Managing Director, signed the agreement in the Bulgarian capital Sofia on 18 May 2022, moments after the agreement was approved by the Council of Ministers. The signing ceremony was also attended by the Minister of Justice, Mme. Nadezhda Yordanova, who will be a key partner in this programme. The Prime Minister acknowledged that the fight against corruption is a long-term endeavour, commenting: “This partnership is another step in the right direction, and we hope to deliver concrete results together.” On the same day, the Council of Ministers also approved draft amendments to the Bulgarian law on judicial powers that aim to strengthen cooperation with the European Public Prosecutor’s Office (EPPO). Emphasising that this is an important piece in the puzzle, Gretta Fenner said: “We are in this partnership for the long run. The first priority is to bring more checks and balances, more accountability, into key enforcement and judicial authorities. Then we need to make sure that citizens see, and feel, the impact of these reforms. It will be incremental changes, but we are confident that change is already happening.”
Financial investigations training for Zimbabwean anti-corruption officers
Our International Centre for Asset Recovery (ICAR) [training team](https://baselgovernance.org/asset-recovery/training-programmes) was in the Zimbabwean capital Harare at the end of April to deliver our flagship Financial Investigations and Asset Recovery training programme. The 23 participants in the week-long intensive workshop were mostly investigators and prosecutors from the Zimbabwe Anti-Corruption Commission (ZACC), the National Prosecuting Authority (NPA), the Financial Intelligence Unit (FIU) and the Zimbabwe Revenue Authority (ZIMRA). These four agencies are all key stakeholders in fighting corruption and money laundering in Zimbabwe. Hon. Justice L. Matanda Moyo, Chairperson of ZACC, stated in her opening remarks that the training is part of a wider multidisciplinary approach to fighting corruption in Zimbabwe. It is the result of inter-agency cooperation in which, among other topics, the stakeholder agencies identify areas of joint training needs. ICAR training programmes regularly bring officers from different agencies together for intensive, hands-on workshops such as this. This approach has proven to have clear benefits in promoting inter-agency relationships and cooperation. ### Essential skills for complex investigations The training provided the participants with the essential skills and simple but yet powerful tools to handle high-profile and complex financial investigations. As one participant commented: “The course was very informative…. a lot of grey areas in money laundering have been cleared. I am looking forward to delivering excellence after this training. The course also assisted me in dissecting and understanding the relevant sections \[of our laws\] on money laundering.” ### Simulated investigation The participants were immersed in a simulated corruption and money-laundering investigation during which they actively followed investigative leads, made decisions and analysed and solved problems, using the Zimbabwean legal framework. The experience also allowed them to reflect upon the challenges that such investigations entail and possible solutions to overcome them. A participant commented: “The teaching methods were excellent, the clarifications clear and the lectures insightful. I return to my organisation better equipped and more knowledgeable.” ### Ongoing collaboration with international support The Deutsche Gesellschaft für Internationale Zusammenarbeit ([GIZ](https://www.giz.de/en/html/index.html)) sponsored the training, which took place under a case consultancy agreement signed between ZACC, NPA and ICAR. Under the agreement, ICAR provides (among other things) technical support and training in asset recovery, as well as expertise in obtaining evidence from other jurisdictions to assist domestic prosecutions.
What is asset recovery?
Asset recovery involves the confiscation of illicit assets, usually the proceeds of crime, and the return of these assets to the legitimate owner(s). Assets can take the form of money or other items of value, for example real estate, precious metals, investments such as shares, virtual assets such as cryptocurrencies, race horses, luxury goods, or an aeroplane.
Asset recovery can be a purely domestic process when the funds have been hidden or invested in the jurisdiction where they were illegally obtained. It can also be international, when the funds have been sent to another jurisdiction.
The process of asset recovery is complex but generally covers four basic phases: pre-investigation (verification of information), investigation (often including seizing/freezing assets and international cooperation to obtain intelligence or evidence), judicial proceedings (following which the court may issue a confiscation order for the assets), and disposal or return (where the assets are returned to the rightful owner).
For more details, see
Tracing Illegal Assets – A Practitioner’s Guide
This guide, written by practitioners working for ICAR, is concerned with a practical approach to tracing illegally obtained assets with a strong emphasis on the intelligence and investigatory aspects of asset recovery.
Guidelines for Efficient Recovery of Stolen Assets
The guide was first developed by ICAR, jointly with partners, in the context of the Arab Forum on Asset Recovery (AFAR). Its content is applicable at a global level and can serve as a useful guidance to CSOs from other regions as well.
Deterrence
First, for its deterrent effect. People are more likely to engage in corrupt behaviour if they are confident that – even if they are caught and convicted – they and their families will still be able to enjoy their illegally obtained wealth. Recovering illicit assets helps deter corruption by turning it into a higher-risk, lower-reward activity.
Generating funds
Second, by convicting corrupt officials and recovering stolen assets, countries can also generate funds for development and strengthen their criminal justice system. The end results are stronger rule of law, integrity and trust in government.
How does ICAR contribute to the Basel Institute’s anti-corruption mission?
As a specialised division of the Basel Institute on Governance since 2006, ICAR is dedicated to supporting developing and transition countries to recover illicit assets misappropriated through corruption and other financial crimes. ICAR works through four main lines of intervention:
Case advice, mentoring and facilitation of international cooperation
Capacity building / training
Institutional development and legal / policy advice
Global policy dialogue and innovation
Does ICAR’s work have wider benefits?
Yes. We believe that supporting countries in recovering stolen assets and promoting sustainable development are mutually reinforcing. Helping countries recover stolen assets can mobilise important resources to finance development or poverty reduction efforts.
The asset recovery process itself also plays a critical role in strengthening some key foundations of sustainable development, such as the rule of law as well as strong, transparent and accountable institutions.
Read more in our Working Paper 29:
Working Paper 29: Recovering assets in support of the SDGs – from soft to hard assets for development
This Working Paper aims to contribute to the international policy dialogue on the link between asset recovery and countries’ pursuit of the Sustainable Development Goals.
What kind of policy advocacy do you engage in?
Globally and domestically, many hurdles still exist that make asset recovery too difficult, too slow and too costly. With our hands-on insight into the practice of asset recovery in a wide range of countries, we are well placed to support global efforts to make asset recovery simpler and more efficient.
We therefore participate in global forums on asset recovery, sharing our on-the-ground experience to contribute to the development of global good practices, simplified procedures and a strategic international framework.
Examples include:
Illicit Enrichment: A guide to laws targeting unexplained wealth
an open-access and freely available book on illicit enrichment laws and their application to target unexplained wealth and recover proceeds of corruption and other crimes.
Boosting co-operation in asset recovery: Exploring the potential of private sector engagement and public-private collaboration
Guidelines for the efficient recovery of stolen assets
a result of the Lausanne Seminar initiative and collaboration as above.
Guide to the role of civil society organisations in asset recovery
developed in the context of the Arab Forum on Asset Recovery.
digital tools
Digital tools and learning opportunities
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Basel LEARN
Our online learning platform, Basel LEARN, is a popular platform for investigators, prosecutors and other anti-corruption practitioners seeking to gain new skills to fight financial crime. It hosts a suite of free self-paced courses on financial analysis, asset tracing, open-source intelligence and more, plus other free learning resources and guidelines. Basel LEARN is also our base for virtual delivery of ICAR training programmes.
Basel AML index
We are well known for publishing the Basel AML Index, an independent assessment and ranking of money laundering and terrorist financing (ML/TF) risks in countries around the world. Issued annually since 2012, the Public Edition ranking and report generate widespread discussion on ML/TF risks among governments and citizens. The Expert Edition, which enables users to explore 17 country-level indicators of ML/TF risk on an interactive dashboard, is free for all except private firms.
Basel Open Intelligence
Basel Open Intelligence (BOI) is an internet search tool that we developed to help investigators and others research potential links between individuals, companies and criminal activities. Financial intelligence units, anti-corruption agencies, police, prosecutors and investigative journalists worldwide use Basel Open Intelligence to help them quickly spot and analyse a suspect and their networks.