Government to initiate drive for stolen asset recovery

21 November 2024 06:50 am Views - {{hitsCtrl.values.hits}} 55 Bookmark

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Colombo, November 21 (Daily Mirror) - The government is to initiate action for the establishment of a mechanism for stolen asset recovery in keeping with the Stolen Asset Recovery Initiative (StAR Initiative) and fresh measures for probing into corruption and frauds as promised in the election manifesto, Public Security Minister Ananda Wijepala said yesterday.

The Minister told Daily Mirror that the enactment of fresh legislation is needed in the establishment of a mechanism to recover stolen assets , and the government will consider it in the future in keeping with the mandate given by people at the last elections.

Asked whether the Financial Crimes Investigation Division (FCID) which was in operation during the time of the Yahalapana government will be revived, he said it currently operates under the Criminal Investigation Department (CID) but not as a separate entity. He said its work will continue.

“Some of the initiatives in dealing with corruption and frauds can be taken in conformity with the existing laws. The other mechanism such as a special investigative agency for stolen asset recovery should be taken only by enacting new legislations. The government will initiate action in this direction for sure,” he said.

Rooting out corruption and fraud is a main campaign theme of the ruling National People’s Power (NPP).

The United Nations Convention against Corruption (UNCAC) and the Financial Action Task Force (FATF) set global standards for anti-money laundering policies and asset recovery efforts. The UN Office on Drugs and Crime (UNODC) and the World Bank's Stolen Asset Recovery Initiative (StAR) support international efforts to recover stolen assets.

Comments - 55

Sam Thursday, 21 November 2024 07:35 AM

Great news. Finally we are making progress and heading in the right direction!

6 94

SM Thursday, 21 November 2024 05:33 PM

Years of bullshit and not a single cent has been recovered. Have they even convicted AND imprisoned a single corrupt politician? If so pls list them here. These criminals are enjoying their corrupt wealth in plain sight. The same bureaucrats are going to go around in the same state of incompetence they’ve been in for the last 5 years.

1 10

M Fernando Thursday, 21 November 2024 10:21 PM

When did YOU last vote ? If it's been years, then you are behind the times. We had an election a few days back. Guess what? There is a new President and new Parliament

0 4

Appuhamy Friday, 22 November 2024 05:38 PM

Much was said during the parliamentary election regarding the amount of money stolen. Many said the corrupt people have stolen billions of dollars and stashed them away in other countries. Thus there is urgent need to expedite what the minister has said and where necessary bring in the laws plus have a team of experts to search all the money hidden and by whom. Also Express pearl ship fiasco has been literally put into slow lane and where many reports in media said around Nine Billion dollars can be obtained. Sincerely hope that withing few months we will hear about getting the money stolen back into our country plus obtain the full payment for express pearl tragedy.

0 1

A Concerned Citizen Thursday, 21 November 2024 07:38 AM

Hope at least some of the stolen assets will be recovered and those responsible will be brought to justice. This should not be just a propaganda.

4 88

Layman Thursday, 21 November 2024 07:42 AM

Many people talked about recovering stolen state assets, but nobody acted. If NPP keeps the promises they pledged during campaigns we should see a true transparent effort towards this. If the ones who stole public money can evade the law and enjoy it, there won't be any end to corruption. It is a must to punish previous crimes to stop future crimes.

0 94

Mangla jayanatha Friday, 22 November 2024 12:47 PM

So far just going on talking only. The New government must understand the people will eagerly awaiting for the visible change of the each and every part of the government moment. So if can't show any progress people will be turn back and it will be the Gota Part 2 version. Promises to keep!!!

0 1

Bobby Pereira Thursday, 21 November 2024 07:51 AM

Bambuwa Thama.

91 19

Frederick Thursday, 21 November 2024 05:21 PM

Please explain in English what does it mean?

2 2

Izzy Thursday, 21 November 2024 07:02 PM

Bambuwa Pereira, what a silly comment!!

1 4

Davs Thursday, 21 November 2024 08:01 AM

I believe every former corrupt politician’s unexplained assets should be confiscated under the state law and bankrupt them, and the funds should be used to pay our current foreign debt and the left over funds should be used for development of all other area of the civil society. This will deter the crooks and robbers to enter politics in future. Only the people have the mentality, heart and desire to serve the people, and the country should come to politics. All the former politician’s assets should be assessed and analysed, what did they have at the time they entered politics, and what did they have when they left politics. Is it balancing according to the parliamentary salaries and the perks they received during the time they were in the parliament. if it is not and the assets are unusually disproportionate, it should be investigated, and excess and unexplained assets should be clawed back as government assets and people assets. Do the justice for the people.

1 86

BanduXX Thursday, 21 November 2024 10:54 AM

Yes but it must be done legally so that UN countries will assist in these matters. Hence may be we need necessary legislation so there will be some delay but great that the process has started.

1 48

ANTON Thursday, 21 November 2024 08:07 AM

BUT THE MOST DIFFICULT THING IS TO LOCATE WHERE THE HELL ARE THESE STOLEN THINGS ARE HIDDEN.

0 62

Will have to do as promised Thursday, 21 November 2024 02:11 PM

Don't worry, NPP know where they are. That's why they kept uttering the same thing again and again. They can't say now, that it's difficult to find.

10 19

BanduXX Thursday, 21 November 2024 02:12 PM

It can be done if done legally with a real will to recover. UNCAC (UN Convention against Corruption) will help with international cooperation. Article 55 deals specifically with mutual legal assistance for purposes of confiscation, outlining procedures for handling requests from other states. This legal framework enables Sri Lanka to request assistance from countries where stolen assets are likely hidden, facilitating the recovery process. The Stolen Asset Recovery Initiative (StAR) is a partnership between the World Bank Group and the United Nations Office on Drugs and Crime (UNODC). It supports countries in their efforts to recover stolen assets by providing technical assistance, capacity building, and policy advice.

0 18

PEOPLE WE HAVE 100'S OF THOUSANDS OF PEOPLE AROUND THE WORLD PRAYING FOR OUR CAUSE, SO NEVER GIVE UP HOPE. Thursday, 21 November 2024 05:51 PM

BANDUXX, CORRECT IT CAN BE DONE LEGALLY AND ANURA WILL DO HIS BEST AND APPEAL TO ALL INTERNATIONAL AUTHORITIES FOR HELP TRACE ALL ILL-GOTTEN MONEY AND OR PROPERTY AND OR BUSINESS PURCHASES AND OR INVESTMENTS IN SUSPECTS NAME AND OR FAMILY, EXTENDED FAMILY AND OR STOOGES. PROPERTIES CAN BE TRACED BY ANY SUSPECTS NAME, EVEN IF RESOLD TO OTHERS ALL RECORDS ARE TRACEABLE IN MOST COUNTRIES. KEEP PRAYING PEOPLE AND NEVER UNDERESTIMATE THE POWER OF PRAYER, IRRESPECTIVE IF ONE BELIEVES IN OUR LIVING GOD OR NOT, PLEASE KEEP PRAYING, WE HAVE GOT TWO MIRACLES LET'S KEEP PRAYING FOR THE THIRD.

2 5

Gunapala Thursday, 21 November 2024 08:17 AM

Excellent move as this is one of the biggest promises made by NPP. Also every month publish how much value has been recovered so that public can measure performance of NPP government.

5 64

Ali Thursday, 21 November 2024 08:29 AM

You mean the Raja Pakses? Is Uganda Kumara heading with face 1? No bogus drama to let the crooks escape.

31 25

Ruling by Liars Thursday, 21 November 2024 08:33 AM

In a few days, they'd say "We didn't say so"

40 23

Kevin Thursday, 21 November 2024 09:40 AM

Namal is taunting them. Catch me if you can. Current score Namal 1 NPP 0

26 22

BanduXX Thursday, 21 November 2024 10:59 AM

Time will catch up on him and it will not be easy this time as he was let off by Ranil filing cases with half baked investigations purposely to help crooks and fool us. That is how all crooks escaped between 2015-2020 as Nidhos kota nidhahas. A put up job by master crook Ranil.

4 37

Wishful thinking Thursday, 21 November 2024 09:45 AM

Last few governments after Mahinda R said the same thing and implied that Rajapaksa clan stolen and taken away lot of money. Mangala S started this story (among other stories) with around USD 80 Bil in deposit in a Dubai bank etc. BTW 80 Bil USD is more than our GDP. People who are knowledgeable knows after 911 incident in US, moving money around is not easy, also very easy to trace if someone did move money around the world. That is why Yahapalana, Ranil, FCID or AKD did not and will not find a single stolen USD. If you look at world’s corruption reports, money hidden in other countries are not considered a big problem. All corrupt/stolen money is in Sri Lanka, with you and me and everyone. In all govt projects like highways, roads, buildings, hospitals, schools etc. Think about you, how much did you earn unlawfully and what did you spend on?

18 12

PINK PANTHER Thursday, 21 November 2024 10:17 AM

RED Ruth Investments had an account at HSBC in HK. Thirukumar Nadesan was the owner of this account. This money was frozen. The Yahapalana government did not pursue. Unfortunately after one year the bank released the funds to the owner. I believe the present government is serious. Give them the space and time. They will deliver.

2 34

Gerard Thursday, 21 November 2024 05:13 PM

Absolutely! Start with local crooks. Investigate who owns multi-million rupee apartments in high-rise complexes in Colombo and its purlieu. Who buys government bonds? No government had any issues with borrowing money from the public whenever they sell bonds or T-bills. Most of the stolen money is circulating inside the country in various forms because sending them out would leave digital footprints. Charity stats at home as they say!

0 7

ANURA/NPP OVER TO YOU TO WORK HARD AS PROMISED TO DO EVERYTHING WITHIN YOUR POWER WITH THE HELP OF INTERNATIONAL ASSISTANCE Thursday, 21 November 2024 06:00 PM

ANURA IS NOT ALL TALK AND NO ACTION LIKE THE GOVT'S THAT RULED FOR DECADES. WE THE PEOPLE HAVE IN RECENT TIMES OPENED OUR EYES AND EARS AND HAVE EDUCATED OURSELVES AS TO HOW THESE SO CALLED GOVT'S THAT PROMISE TO SERVE THE COUNTRY AND US ALL HAVE BEEN OPERATING, AS NOTHING WAS IN PUBLIC GIVING THEM A FREE HAND TO OPERATE RIDDLED IN CORRUPTION. OUR DAY HAS COME TO KEEP FIGHTING FOR OUR RIGHTS AS CITIZENS AND WITH ANURA WE HAVE A CHANCE OF A LIFETIME TO MOVE FORWARD ALONG WITH THE COUNTRY, EQUAL OPPOERUNITIES TO ALL AND HELP FOR THOSE STRUGGLING WHO HAVE NOT HAD THE OPPORTUNITIES TO KEEP UP WITH THE REST.

1 6

Upul Thursday, 21 November 2024 09:59 AM

What a great news.

1 30

Tissa Fernando Thursday, 21 November 2024 11:06 AM

Yes, great, USD 56 billions (as per Wasantha Samarasinghe) to be recovered from Uganda, and other places. May be the money is buried in several pits in Sri Lanka (like Mexican Drug lords) . We are going to be a rich nation soon when they start recovering these monies. But to be transparent, please disclose if recovery efforts were unsuccessful due to non existence of such stolen money.

18 14

Insider Thursday, 21 November 2024 02:16 PM

Patience. Time will come when proper investigations are done by STAR - Stolen Assets Recovery team of the World Bank.

1 23

Riz vegga Thursday, 21 November 2024 11:06 AM

Proper professional investigation team must be formed For countries financial recovery given a time frame.....if not will be a waste of time and money

0 19

Roisin Thursday, 21 November 2024 11:51 AM

So now all people who think the UN and Worldbank is useless might think twice. Also the IMF is a big help against corruption and helps Sri Lanka to be independent, while loans from China or India only have the purpose to make Sri Lanka dependent to them.

2 18

M Fernando Thursday, 21 November 2024 01:15 PM

You mean we are NOT dependent on IMF and WB and can walk away anytime we like ? Aiyo ! You should tell of this "independence" to the Central Bank and the President ASAP! The whole country will be grateful to you. !!!!

6 3

Roisin Thursday, 21 November 2024 04:33 PM

M. Fernando: of course that is not what I mean. I mean that the reasons why China and India are giving us loans is totally different and only for their gain then the purpose of IMF and worldbank. China and India are thriving on Sri Lankas bankruptcy, while the IMF want reforms for the betterment of Sri Lanka.

0 3

Nihal S Thursday, 21 November 2024 12:53 PM

Great news. NPP please try your best, you may not recover assets tactically stolen by Rsjapakse family, but at least it will deter robbing of public resources by future politicians.

2 7

nirupama rajapaksha Thursday, 21 November 2024 12:55 PM

This is Must. Need to investigate each and every case and confiscated all stolen state assets. NPP promised to carry out independent investigation on this, so we expect immediate action

0 11

Indra Dasa Friday, 22 November 2024 03:18 AM

Yes , Of Course it is . Majority , More than 2/3 of Voters including the North and East , have been given the full power to NPP government to catch all crooks and recover stolen wealth and money locally and money and wealth hidden in Overseas with the help of all international authorities established in the world to recover stolen money and properties hidden in overseas . This is the number one on the do list of NPP government and it is proven by the NPP government by appointing clever investigation officials to carry out their duties without any political involvements .

0 1

Labby Thursday, 21 November 2024 01:46 PM

Where's Tilvin Silva now? A few days ago didn't he deny that they spoke of stolen property on their election platforms?

3 10

mk Thursday, 21 November 2024 02:05 PM

They wont get anywhere

16 7

Cheers Thursday, 21 November 2024 02:17 PM

Immediate buggers should be Anura Kumara, vijitha Herath, Bimal and Tilvin the share they got from central bank robbery

17 5

Aquarius Thursday, 21 November 2024 02:18 PM

Obviously, the stolen assets are not lying around for easy recovery. Those who were involved knew how to keep them away from public eye. The government need to tap investigation entities of other countries to flush out these hidden assets. Some of these could be invested as real estate in others names in Sri Lanka, hopefully easier to investigate. Any recovered stolen assets can be welcome to minimise the burden placed on the people. Good luck.

0 17

PEOPLE HAVE FAITH AND BE PATIENT WITH OUR GOVT AS IT MOVES FORWARD WITH GOVERNING AND KEEPING ITS PROMISES Thursday, 21 November 2024 06:14 PM

CORRECT, ANURA WILL PERSUE ALL AVENUES TO TRY LOCATE ALL SUSPECTS, THEIR FAMILY, EXTENDED FAMILIES AND STOOGES. NAMES WOULD HAVE TO BE GIVEN SO THAT TRACING CAN BE DONE IN ALL AREAS WHERE MONIES ARE DEPOSITED, INVESTED AND OR PROPERTY PURCHASES. IT WILL TAKE TIME, ANURA NEEDS TO GO BEHIND BASED ON THE LEVEL OF CORRUPTION OF THE INDIVIDUAL AND LEAVE THE SMALL FRYS FOR LAST. IN THE MEANTIME ANURA/NPP AND THEIR TEAMS WILL FOCUS ON GOVERNING THE COUNTRY, WHILE LOCATING ILL-GOTTEN ASSETS GIVEN TO A TEAM OF INVESTIGATORS IN THE COUNTRY AND ABROAD WHO WILL BE WILLING TO HELP WITH INFORMATION TO ASSIST.

2 0

Alam Thursday, 21 November 2024 02:52 PM

Legally means west accepts, if west doesn’t accept, then nobody is legal. West accepts killing Palestinian legal and Zionist illegal. That’s the logic.

10 2

Tilak Thursday, 21 November 2024 04:47 PM

is abduction and torture, blowing oneself for religion legal?

1 3

Gerard Thursday, 21 November 2024 03:57 PM

People who believe this is going to bear fruit are day dreamers. No stolen money is invested just under your own name. Those were the olden days. Now they are hidden over several layers of investments and the final owner is like finding a needle in a haystack, provided you can find the haystack in the first place. No bank or an investment company is just going to handover the money just because someone say it is stolen. Not only that, there should be bilateral or multilateral agreements with those countries to exchange information about each other’s citizens. Certain banks, especially those in the Caribbean and some in Europe are governed by separate laws that their own governments cannot intervene. In most cases account holder’s names are post boxers in empty buildings. It took UK government over 10 years to get the list of bank accounts held by UK citizens in Swiss Banks. Even then only they could recover unpaid tax on interest not the deposited money. Better to concentrate on the l

1 11

Fernando Thursday, 21 November 2024 04:44 PM

Thank you!! Finally, someone speaking sense!! Well said! Most who comment here are either very naive or totally ignorant. They are in for a big shock. Let's see how much of this stolen money will be recovered.

1 4

Jude Thursday, 21 November 2024 11:15 PM

If stolen asset recovery goes well, then there will be Over hundred politicians gonna be incarcerated.

0 0

Jude Thursday, 21 November 2024 11:17 PM

I want RANIL MR and Namal to be jailed for the colossal amount of stolen money!!

0 0

Jude Friday, 22 November 2024 02:13 AM

Stolen asset recovery should end up with scores of politicians been incarcerated. Otherwise The whole exercise not useful.

0 0

Jude Friday, 22 November 2024 02:17 AM

In most cases the stolen money cannot be recovered because SL government have no Treaties signed with those countries where the ill-gotten money is stashed.

0 0

Jude Friday, 22 November 2024 02:22 AM

BUT handover the stolen asset recovery files to America they've signed treaties practically with all most all those countries.

0 0

Jude Friday, 22 November 2024 03:59 AM

If stolen asset recovery succeed in punishing the culprits then ABOUT 300 or More present And former politicians will be incarcerated!!

0 0

Jude Friday, 22 November 2024 04:06 AM

Stolen asset recovery shouldn't limited to only an initiative, it should punish all the culprits.

0 0

jans Friday, 22 November 2024 11:23 AM

PAST TWENTY FIVE YEARS PAST PRESIDENTS OPPOSITION LEADERS SIPHON OFF BILLIONS OF USD TO SECRET ACCOUNTS CAN TRACED THRU UNCAC /FATF CAN UNCOVERED BY SATELLITE TRACINGS.OR HIDDEN LOCALLY THERE'S IS 100BILLIONS OF USD UNTRACED BETWEEN FINANCE MINISTRY N CBSL ACCOUNT FIGURES WHEN ARJUNA MAHENDRA WAS IN DUBAI BANK MANAGER THEY WITNESSED BILLIONS OF USD IN THAT ACCOUNT N OFFICALS PHOTOGRAPHED BALANCE OF STATEMENT INSTANTLY THEY TRANSFERRED HUGE AMOUNTS TO NO BODY KNOWS ALSO THEY BUY REAL ESTATE WITH IN COLOMBO ,ITS VERY BIG TASK TO RECOVER THAT HUGE MONEY LET'S WAITBN SEE

0 0

Lp Friday, 22 November 2024 03:01 PM

What hapened to the commission appointed by Gota to investigate Pandora report.

0 0

Dee Friday, 22 November 2024 05:15 PM

Great news! Will you initiate one for stolen assets and NIC’s which were taken away by the JVP during the late eighties?

0 0

Tunning K Saturday, 23 November 2024 01:21 PM

Stolen assets and damage done to economy and tourism niches as a result of terrorist attack on 21st April 2019 have common characteristics and interconnected authorities were in power during the period of those occurrences. Begin with that Dadayakkaru who set the trap and still not punished. If AKD can do this giving top priority as he promised before elections, country will move forward recovering enough to save the day, regaining lost reputation to face challenges for next many years with lesser burden to the people. Only that will ensure the existence of this regime too.

0 0

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