‘Illegal assets must be recovered from the corrupt’

February 17th, 2012 - 10:48 pm ICT by IANS  

New Delhi, Feb 17 (IANS) Calling on the investigative agencies to “realise the fallout of corruption and tighten their belts” against the scourge, senior government officials Friday said the fight will be “incomplete” unless the illegal assets and the wealth amassed is recovered.

“The corrupt should be not only brought to book but their illegally amassed wealth should also be recovered and attached. Such property and wealth which is created through corrupt and illegal means is basically a fruit of crime and the guilty should not be allowed to enjoy these fruits,” said P.K. Misra, secretary in the department of personnel and training.

“No fight against corruption is complete unless we recover and attach these illegal assets,” he said, addressing participants at the first Interpol global programme on anti-corruption and asset recovery organised by the Central Bureau of Investigation Feb 13-18 here.

Central Bureau of Investigation (CBI) director A.P. Singh said that the multi-jurisdiction, cross-border aspects of an investigation corruption and international asset recovery involves numerous processes like tracing, freezing, confiscation and repatriation of proceeds store in foreign jurisdiction.

“We must realise that international cooperation is a two-way street and is given on a reciprocal basis,” he said.

Observing that in today’s globalised context, effective international co-operation is essential for fighting corruption that transcends international boundaries, Singh said: “We need to engage with each other at all levels to effectively deal with those criminals indulging in corrupt practices at a multi national level.”

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