Index accountability Alcoa World Alumina 183 institutional governance, supervision Alesina, A. 52 and regulation 158–9, 168 Alter Ego or Identification Theory, public officials and lack of criminal liability of legal persons accountability 21–2 369–70 shortcomings, international Alvarez, J. 275 framework emergence 252–3, Anechiarico, F. 268 260 Argentina, capital returns, adverse see also transparency effect on SMEs 48 accounting and auditing standards Aronoff, A. 215 financial markets, politically- Asia connected firms 104, 105, 111 microfinance institutions (MFIs) preventive and non-criminal-related 131, 133–8, 139, 144–6 measures 421–3, 427–9 see also individual countries sanctions and corporate liability 355 asset recovery 479–523 adjudication versus international banks with no physical presence in supervision see follow-up territory and not affiliated to a procedures as specific cases financial group 491–2 of international supervision, capacity-building programs 493 international supervision versus capital that originates from crime adjudication 485–6 Africa civil claims and burden of proof microfinance institutions (MFIs) 496–7 129, 131, 132–3, 139, 144–6 civil procedures and mutual legal Nigeria see Nigeria assistance requirements Nyanga Declaration on the 495–6 Recovery and Repatriation of confiscation tools and international the African Wealth 479 cooperation 497–9 African Charter on Human and contingency fee arrangements 496 Peoples’ Rights 248, 253 cultural objects, possessor in good African Union Convention on faith of stolen cultural objects Preventing and Combating 484 Corruption see AU Convention cultural objects, return of 481–3, agency model, firms and markets 486, 501 20–25 freezing or redistribution of assets Aggarwal, R. 105–6 504 Aidt, T. 15, 16 freezing and seizure of property on AIG 100 specific order issued by State Akehurst, M. 379 Party 497 Akerlof, G. 18, 49, 85, 86 illegal transfer of funds, prevention Alam, M. 316–17 of 485–6 595 Marco Arnone and Leonardo S. Borlini - 9781781006139 Downloaded from Elgar Online at 09/25/2021 02:54:57PM via free access 596 Corruption IMF estimate of global money recovery assistance 508, 510 laundering 479–80 technical assistance 391, 508, 510, information disclosure requirements 513–14 492, 500–501 Trust Fund support 508, 509 international framework emergence asset recovery, Stolen Asset Recovery 237, 257, 266–9 Initiative (StAR), legal barriers legal grounds for international 514–19 restitution of proceeds from bank secrecy 519 illicit activity 479–84 conflict of interests within financial legal value and interpretation 487–9 system 518 mandatory repatriation, early lack of transparency in settlements proposals 480 of foreign bribery cases 515–17 mutual legal assistance and legal requirement recommendations extradition 397 518–19 national legal systems, differences misuse of corporate vehicles 517–18 between 499–500 non-conviction based asset ordre public 499–500 forfeitures 515 public officials, financial information political immunities 518 disclosure 492 asset recovery, Stolen Asset Recovery reciprocal judicial assistance Initiative (StAR), operational 499–500 barriers 519–23 return of assets to requesting State INTERPOL joint initiative, Global Party 489–90 Focal Point Platform 520–21 return and disposal of assets 489–90, management of returned assets, 501–3, 504 insufficient guidance 521–2 return and disposal of assets, prior technical difficulties in identifying ownership cases 502 and quantifying proceeds of technical experts for developing corruption, OECD joint study countries 504 522–3 transparency and due diligence of asset recovery, Stolen Asset bank intermediaries 490–91 Recovery Initiative (StAR), UNCAC see UNCAC, asset political will, dealing with lack recovery of 507, 511–14 see also confiscation inadequate monitoring of politically asset recovery, Stolen Asset Recovery exposed persons and due Initiative (StAR) 183, 389–90, diligence requirements 512–13 413, 507–23 non-compliance with anti-money activities and organization 508–11 laundering measures 511–12 challenges and priorities 511–23 public officials and ineffective and Extractive Industries systems of income and asset Transparency Initiative (EITI) disclosure 513–14, 521 303 AU Convention global knowledge sharing and accountability shortcomings 252–3, advocacy 509–10 260 governance structure 511 approaches to counteracting legal framework and UNCAC 508, corruption 250–51 516 bank secrecy 406 national capacity building 510 bribery of foreign public officials partnership between the UNODC 322, 323, 324, 325, 331, 337 and World Bank 509 civil society groups’ involvement 249 Marco Arnone and Leonardo S. Borlini - 9781781006139 Downloaded from Elgar Online at 09/25/2021 02:54:57PM via free access Index 597 claw-back clauses, limiting nature extradition 396–7, 398, 402–3, of 252 406–7, 409 fair trials and treatment of the preventive and non-criminal-related accused 252 measures 419 follow-up procedures as specific Stolen Asset Recovery Initiative cases of international (StAR), legal barriers 519 supervision 466–7 banking good governance approach and banks with no physical presence in development 250 territory and not affiliated to a human rights obligations 249–50, financial group 491–2 251–3, 260, 406 central bank independence 166 illicit enrichment provision 253, 260 intermediaries, transparency and due investigative powers, lack of 467 diligence 490–91 jurisdictional provisions 385 supervision 160–61 mutual legal assistance and Bardhan, P. 25, 56 extradition 405–6 Barron, G. 31 political parties, illicit funding 346 Basdevant, J. 487 preventive and non-criminal-related Bassiouni, M. 395, 396 measures 424–6 Baumann, T. 130 public official definition 332 bearer shares and bearer-share ratification problems 253–4 warrants 391 seizure and confiscation of goods see also jurisdictional issues, treaty- 359–60, 363, 366 based mechanisms selected provisions of convention Beck, M. 368 into national law, enactment of Beck, P. 15 249 Becker, G. 24, 82 AU Convention, preventive and non- behavioral economics 49, 85–6, criminal-related measures 424–6 87–8 accounting, auditing, and follow- Belgium up systems, maintenance of corporations’ tendency to bribe internal 425 public officials 64 civil society and media involvement liability for legal persons 376 425 market capitalization 117, 120 private sector involvement in the Berman, F. 380 fight against unfair competition Bernasconi, P. 494 425 Berthod, A. 398, 399, 403, 404 public officials, declaration of assets Bertrand, M. 105–6 424–5 Bhagwati, J. 13 whistleblower protection 425–6 Bhargava, V. 13 Australia, corporations’ tendency to bilateral agreements, conclusion bribe public officials 64 consideration 413 Austria Bogdandy, A. 275 corporations’ tendency to bribe bond issues in developing countries public officials 64 95–6 market capitalization 117, 120 Bonucci, N. 225–6, 454, 455 borrowing costs 95–7 Bai, J. 95 see also financial markets Balmelli, T. 487, 504 Brau, J. 130 bank secrecy Brazil mutual legal assistance and Mensalão scandal 410–11 Marco Arnone and Leonardo S. Borlini - 9781781006139 Downloaded from Elgar Online at 09/25/2021 02:54:57PM via free access 598 Corruption monetary authority corruption 74 cultural objects, possessor in good politically-connected firms 105 faith of stolen cultural objects bribery 484 contractual relationship, underlying business 362 advantage, foreign public officials and corrupt officials, comparable and bribery 328–9 treatment 356 environment index 50 costs to firms, effects of 57–8 interests, politically-connected criminalization of offense see firms see financial markets, criminalization of offense, politically-connected firms bribery obstacles to 40–41 decentralization effects 2 talents 48–9, 172–3 definition 339 see also corporate liability; firms and and demand side of corruption 221 markets efficiency implications 15–16 lightening of regulatory load 23 Calderoni, F. 239 “offering” “promising” and “giving” Campos, J. 13 a bribe 322–3, 325 Canada proceeds, sanctions and confiscation corporations’ tendency to bribe 358–63 public officials 64 and public spending 3–4 tax revenues and corruption 76 punishment probability effect 4 capacity-building programs 305, 493 red-tape requirements 41 capital seizure and confiscation of costs, effects of, on firms and bribery proceeds, mutual legal markets 39 assistance and extradition 399 flows, multinationals and bribery of public officials macroeconomic performance AU Convention 322, 323, 324, 325, 63–6, 67 331, 337 originating from crime 485–6 follow-up procedures as specific returns, adverse effect on SMEs cases of international 48 supervision 456–7, 476 see also financial markets foreign 233–4, 322–6, 328–32, Carino, L. 102 336–40 Carrington, P. 172, 496 international framework emergence Cartier-Bresson, J. 20–22 233–4, 322–6, 328–32, 336–40 Cassani, U. 393 multinationals, corporations’ Cassese, A. 443, 444, 445–7, 448 tendency to bribe public Cassin, R. 203 officials 63–4 Chalmers, D. 240 payments qualifying as bribes, Chen, C. 105–6 supranational anti-bribery Chen, D. 104 regulation 211–12 Cheng, T.-M. 36 preventive and non-criminal-related China measures 420–22 corporations’ tendency to bribe as tax-deductible expense 216, 230, public officials 64 420–21, 436 politically-connected firms 103 Brun, J. 493, 509 Chiu, M. 103 Buergenthal, T. 275 Ciocchini, F. 95–6 burden of proof Civil Law Convention on Corruption civil claims and asset recovery 496–7 (Council of Europe)