Publication:
Unexplained Wealth Orders: Toward a New Frontier in Asset Recovery

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dc.contributor.authorHauch, Jeanne
dc.contributor.authorBrun, Jean-Pierre
dc.contributor.authorJulien, Rita
dc.contributor.authorOwens, Jeffrey
dc.contributor.authorHur, Yoonhee
dc.date.accessioned2023-06-28T16:21:25Z
dc.date.available2023-06-28T16:21:25Z
dc.date.issued2023-06-28
dc.description.abstractSeveral countries have in recent years introduced the unexplained wealth order (UWO) as a tool to improve recoveries of the proceeds of crime—particularly kleptocracy, the fruits of corruption by government officials. While it is too early to be able to draw any definite conclusions as to its effectiveness in curbing corruption, the UWO contains novel ideas that are worth examining in more depth. UWOs oblige persons suspected of corruption or other serious crimes in these countries to explain the origin of their wealth and discrepancies between their legitimate sources of income and the value of their assets. UWOs are a civil, not criminal action and can be an invaluable tool in asset recovery cases in which cross-border identification and tracing of criminal and corrupt assets is a challenge for relevant investigative agencies and prosecutors. The report provides suggestions on approaches to develop similar policies and makes recommendations for future efforts to use UWOs to combat money laundering and corruption. The purpose of this study is to provide policy makers with an overview of UWO systems by placing them in the context of other asset recovery tools and drawing lessons for countries contemplating the introduction of UWO-type legislation. While the design and implementation of UWO systems are very much in a state of evolution, they may fill a gap in asset recovery systems. UWO systems, like other legal tools, depend on other legal and institutional aspects in each jurisdiction. If a country considers implementing a UWO system, it should form part of a more comprehensive whole of policies and must be adapted to the specific legal context. For example, countries that have established a strong forfeiture system based on value confiscation or civil confiscation, not requiring prosecutors to show a link between assets and a crime, may not need UWOs as much as other countries that have not. en
dc.identifierhttp://documents.worldbank.org/curated/en/099062323140512831/P1780480047e140910b2f7094c0b2a473a9
dc.identifier.doi10.1596/39942
dc.identifier.doihttps://doi.org/10.1596/39942
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/39942
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectUWO
dc.subjectUNEXPLAINED WEALTH ORDER
dc.subjectCORRUPTION
dc.subjectASSET RECOVERY TOOLS
dc.subjectILLICIT FINANCIAL FLOWS
dc.subjectPANAMA PAPERS
dc.subjectPARADISE PAPERS
dc.subjectLUANDA LEAKS
dc.subjectPANDORA PAPERS
dc.subjectUNCAC
dc.subjectTAX AUTHORITIES
dc.subjectENFORCEMENT AGENCIES
dc.subjectKLEPTOCRACY
dc.titleUnexplained Wealth Ordersen
dc.title.subtitleToward a New Frontier in Asset Recoveryen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleUnexplained Wealth Orders: Toward a New Frontier in Asset Recovery
okr.date.disclosure2023-06-28
okr.date.doiregistration2025-04-15T11:17:02.077077Z
okr.date.lastmodified2023-06-26T00:00:00Zen
okr.doctypePublications & Research
okr.doctypePublications & Research::Publication
okr.docurlhttp://documents.worldbank.org/curated/en/099062323140512831/P1780480047e140910b2f7094c0b2a473a9
okr.guid099062323140512831
okr.identifier.docmidP178048-047e14b2-33fe-4691-b2f7-94c0b2a473a9
okr.identifier.doihttp://dx.doi.org/10.1596/39942
okr.identifier.externaldocumentum34101930
okr.identifier.internaldocumentum34101930
okr.identifier.report183273
okr.import.id968
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099062323140512831/pdf/P1780480047e140910b2f7094c0b2a473a9.pdfen
okr.region.administrativeOther
okr.region.geographicalWorld
okr.sectorOther Public Administration,Banking Institutions
okr.themeInclusive Growth,Data Development and Capacity Building,Financial Stability,Economic Policy,Economic Growth and Planning,Finance,Public Sector Management,Data production, accessibility and use,Financial Sector Integrity
okr.topicLaw and Development::Corruption & Anticorruption Law
okr.topicLaw and Development::Financial Law
okr.topicLaw and Development::International Law
okr.topicLaw and Development::Law Enforcement Systems
okr.unitEFI-FCI-Financial Stab.&Integr. (EFNFS)
relation.isAuthorOfPublicationddde5f13-e2e1-5322-b3a3-f541e4054b82
relation.isAuthorOfPublication.latestForDiscoveryddde5f13-e2e1-5322-b3a3-f541e4054b82
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StAR Initiative (Stolen Asset Recovery)