"Establishment of a stolen public asset recovery agency with the technical and advisory support of international organizations such as Stolen Asset Recovery (STAR) and United Nations Office on Drugs and Crime (UNODC) to recover the stolen state assets."
The Proceeds of Crime Act was passed unanimously as a strategic move to strengthen the country’s legal and institutional framework against financial crimes, corruption, and money laundering. It seeks to enhance asset recovery mechanisms and enables the government to identify, seize and recover illicit assets acquired through criminal conduct.
However, there is potential for abuse, and without independent oversight, the law could be used to target political opponents or dissenters under the guise of anti-corruption.
Instead of creating a new agency, it is moving forward with the Proceeds of Crime Act that grants existing institutions, such as the CIABOC and policy, the authority to recover stolen assets. (Economy next)
