Ukraine Forum on Asset Recovery
28 Apr 2014 11:41 AM
The International community mobilises to recover
stolen assets for the people of Ukraine.
A
high-level international meeting to support the Government of Ukraine in
recovering stolen assets begins tomorrow (29 April 2014) in London. The
gathering is a landmark for Ukraine in underscoring the rule of law and
international cooperation. The international community and the Government of
Ukraine are united in their commitment and determination in returning stolen
assets to the people of Ukraine.
The
Ukraine Forum on Asset Recovery (UFAR) is jointly organised by the United
Kingdom and the United States of America in support of efforts by the
Government of Ukraine to recover stolen assets. Asset recovery is essential in
stopping those who have stolen assets from benefitting from their crimes, and
in sending a strong message that there can be no impunity for those who carry
out such illegal actions. The two-day meeting brings together representatives
of key international financial centres and international organisations to
bolster collective action, foster direct exchange between practitioners and
plan practical steps towards this goal. Key objectives
include:
- Reaffirming the political commitment of the
international community in tracing and recovering stolen
assets;
- Facilitating international cooperation for the early
tracing of such assets;
- Enabling sharing of best practices, lessons learned and
available tools;
- Addressing ways of tracing assets hidden behind complex
corporate structures;
- Facilitating networking and trust-building among
practitioners across jurisdictions; and
- Identifying specific capacity building needs for
Ukraine.
Senior government officials alongside policy makers,
judicial experts, prosecutors, financial intelligence analysts, and regulators
are participating in UFAR. Bilateral meetings between Ukrainian officials
and other delegations will be an important feature of UFAR in helping
to identify concrete actions to be taken to advance asset
recovery.
In
hosting UFAR in London, the British Home Secretary, the Right Hon.
Theresa May MP, stressed the importance of the international community’s
role in assisting Ukraine.
By
taking urgent and immediate steps to provide political and economic stability,
the UK, US and wider international community has already demonstrated a strong
commitment to the people of Ukraine. This forum provides a further opportunity
to show our ongoing support.
Building on our expertise in the field of asset
recovery, it will also provide practical leadership and assistance to the
Ukrainian government as they identify and recover assets looted under the
Yanukovych regime and introduce political and economic reform.
The
message is clear - we are making it harder than ever for corrupt regimes or
individuals around the world to move, hide and profit from the proceeds of
their crime.
Attorney General Eric Holder of the United States, which
is jointly organisingUFAR, emphasised the importance of asset recovery in
bringing justice and in mobilising against corruption.
This community of nations stands united in our
determination to support Ukrainian leaders and citizens as they combat
corruption and strive to ensure the stability, the independence, and the
national sovereignty of a strong and free Ukraine.
We
know that the costs of corruption can be immense and long-lasting. That is why,
within days of the fall of President Yanukovych’s regime, the U.S.
Department of Justice had a response team on the ground in Kyiv to assess the
needs of Ukraine’s investigation into any stolen assets belonging to its
people; to provide assistance with document review and preservation; and to
help initiate and coordinate any and all efforts required by further
investigations.
The
United States will never stop fighting alongside Ukraine and its partners to
ensure accountability, to strengthen transnational cooperation, and to meet
instability with resolve – and robust diplomacy.
Further information
Read the latest updates on the
government’s response to the situation in Ukraine