Managing Seized and ConfiscatedAssets - A Guide for Practitioners
NOVEMBER2023 ManagingSeizedandConfiscatedAssets AGuideforPractitioners LisaBostwickNigelBartlett HermioneCronje T.J.AbernathyIII PublicDisclosureAuthorized PublicDisclosureAuthorized PublicDisclosureAuthorized PublicDisclosureAuthorized ManagingSeizedandConfiscatedAssets AGuideforPractitioners LisaBostwickNigelBartlettHermioneCronje T.J.AbernathyIII ©2023InternationalBankforReconstructionandDevelopment/TheWorldBank1818HStreetNW,Washington,DC20433 Telephone:202-473-1000Internet:star.worldbank.org Email:starinitiative@worldbank.org Twitter:@returningassets Somerightsreserved. StAR—theStolenAssetRecoveryInitiative—isapartnershipbetweentheWorldBankGroupandtheUnitedNationsOfficeonDrugsandCrime(UNODC)thatsupportsinternationaleffortstoendsafehavensforcorruptfunds.StARworkswithdevelopingcountriesandfinancialcenterstopreventthelaunderingoftheproceedsofcorruptionandtofacilitatemoresystematicandtimelyreturnofstolenassets. ThisworkisaproductofthestaffofTheWorldBankandtheUnitedNationsOfficeonDrugsandCrimewithexternalcontributions.Thefindings,interpretationsandconclusionsexpressedinthisworkdonotnecessarilyreflecttheviewsofTheWorldBank,itsBoardofExecutiveDirectors,orthegovernmentstheyrepresent,theUnitedNations,oritsMemberStates.TheWorldBankandtheUnitedNationsdonotguaranteetheaccuracyofthedataincludedinthiswork.Theboundaries,colors,denominations,andotherinformationshownonanymapinthiswork donotimplyanyjudgmentonthepartofTheWorldBankortheUnitedNationsconcerningthelegalstatusofanyterritoryortheendorsementoracceptanceofsuchboundaries. NothinghereinshallconstituteorbeconsideredtobealimitationuponorwaiveroftheprivilegesandimmunitiesofTheWorldBankortheUnitedNations,allofwhicharespecificallyreserved. RightsandPermissions Thematerialinthisworkissubjecttocopyright.BecauseTheWorldBankencour-agesdisseminationofitsknowledge,thisworkmaybereproduced,inwholeorinpart,fornoncommercialpurposesaslongasfullattributiontothisworkisgiven. Anyqueriesonrightsandlicenses,includingsubsidiaryrights,shouldbeaddressedtoWorldBankPublications,TheWorldBankGroup,1818HStreetNW,Washington,DC20433,USA;fax:202-522-2625;e-mail:pubrights@worldbank.org. CoverillustrationbyLindsayJordanKretchenDesignbySensicalDesign Contents StolenAssetRecovery(StAR)Series7 PreviousTitlesintheStARSeries7Acknowledgments9OverviewofPolicyRecommendations10Abbreviations18 Introduction20 Audience21KeyTerms21HowtoUseThisGuide22 1OverviewofAssetManagement26 1.1IntroductoryRemarks26 1.2LegalAvenuesforAssetConfiscation27 1.3AssetConfiscationLifeCycle30 2EstablishinganAssetManagementFunction34 2.1IntroductoryRemarks34 2.2GeneralPrinciples35 2.3LegalFoundation42 2.4CommonStructures43 2.5.FunctionsoftheAssetManagementOffice47 2.6FinancialManagement50 2.7PoliciesandProcedures54 2.8AssetInventorySystems55 2.9AccesstoInformation60 2.10Procurement60 StAR:StolenAssetRecoveryInitiative1 CONTENTS 3Pre-seizurePlanning68 3.1IntroductoryRemarks68 3.2IdentificationofAssetsforForfeiture70 3.3AssetType73 3.4AssetLocation74 3.5AssetOwnershipandThird-PartyInterests75 3.6AssetValuation76 3.7EstimationofAssetManagementExpensesuntilForfeiture78 3.8InterimSaleorInterimUse80 3.9LikelyAssetDisposalOutcomes80 3.10AssetManagementOfficeCapacityandResources83 3.11AlternativestoSeizure83 3.12SeizureDecisions86 3.13TakingCustodyofAssets89 3.14UnexpectedSeizures96 4ManagementofSeizedAssets100 4.1IntroductoryRemarks100 4.2MaintainingSeizedAssets101 4.3InterimSales105 4.4InterimUseofSeizedAssets107 4.5SupervisionofContractors109 4.6ReturnofSeizedAssets114 5DisposalofConfiscatedAssets118 5.1IntroductoryRemarks118 5.2Sale118 5.3OfficialUse123 5.4SocialReuse123 5.5Salvage,Scrap,orDestruction125 5.6AllocationofProceeds128 2ManagingSeizedandConfiscatedAssets:AGuideforPractitioners 6SeizureandConfiscationofRealProperty,PersonalProperty,andComplexAssets142 6.1IntroductoryRemarks142 6.2RealProperty143 6.3PersonalProperty149 6.4ComplexAssets173AppendixA.AssetManagementOfficeOperationsPlan186AppendixB.NewAssetCaseNotificationForm194AppendixC.PropertyInspectionReport196AppendixD.VehicleInspectionReport198AppendixE.FieldReportonSeizedBusiness200 StAR:StolenAssetRecoveryInitiative3 CONTENTS Boxes Box1.1.UnitedKingdom:AddressingUnfilledConfiscationOrders30 Box2.1.Nigeria:TheRegisteredTrusteesofSERAPv.MinisterofJusticeandAttorneyGeneraloftheFederation(suitFHC/ABJ/CS/407/2020handeddownonJuly3,2023)38 Box2.2.Ukraine:CriminalCasesagainstFormerLeadershipofAssetManagementOffice39 Box2.3.LegalProvisionsThatProtectThird-PartyInterests41 Box2.4.France:AGRASC—AnExampleofaWell-Established Self-StandingAssetManagementOffice47Box2.5.Nigeria:AssetManagementFunctionsSetForthinLegislation48Box2.6.Romania:AssetManagementOfficeFunctions49Box2.7.France:Self-FundedAssetManagementOffice51 Box2.8.SouthAfrica—ChallengesofaLackofaReliableand AdequateFundingSource52 Box2.9.Romania:IntegratedAssetInventorySystem59 Box2.10.WorldHealthOrganization:ExampleofProcurement Principles61 Box3.1.Scotland:LossDuetoFailuretoSeizeCattlePassports72 Box3.2.Go
