SL to recover fraudulently earned assets in foreign countries, with UN support- Minister

The United Nations Office on Drugs and Crime (UNODC) has agreed to provide its assistance to recover money from people who have fraudulently acquired assets and deposited them in foreign countries, Minister of Justice Wijeyadasa Rajapakshe said.  

The process to recover the money deposited in foreign countries by individuals who fraudulently acquired assets will start in the next few days, the Justice Minister said during a discussion with the South Asian Regional Representative of the United Nations Office on Drugs and Crime, Marco Teixeira, held at the Ministry of Justice.  

On behalf of the World Bank, the UNODC is working to recover money from such individuals who have fraudulently earned assets and deposited them in foreign countries, the minister said.  

With the new Anti-Corruption Act coming into effect on September 15, the new Bribery or Corruption Investigation Commission of Sri Lanka will have the power to deal with such individuals, the minister also stated.   

The Stolen Asset Recovery Assistance (StAR) system used by the World Bank and the UNODC together will be able to recover such stolen assets, he said.   

• The new Bribery or Corruption Investigation Commission of SL will have the power to deal with such individuals
• The process will start in the next few  days
• The new Anti-Corruption Act comes into effect on September 15