Global sanctions against corruption and asset recovery: a European approach

Georgios Pavlidis

Journal of Money Laundering Control, 2021, vol. 26, issue 1, 4-13

Abstract: Purpose - This paper aims to critically examine whether it is timely and actionable for the European Union (EU) to adopt a global sanctions regime against corruption and how such a regime can be designed to maximise its efficiency. This paper argues that developing such a dedicated framework is necessary, feasible and supportive of the international fight against corruption and the efforts to enhance the recovery of corruption proceeds. Design/methodology/approach - This paper draws on reports, legislations, legal scholarships and other open-source data on global sanctions against corruption and the recovery of corruption proceeds. Findings - This paper argues in favour of a dedicated global sanctions regime against corruption, which is necessary to mitigate significant risks for the EU internal market. Originality/value - To the best of the authors’ knowledge, this study is one of the first to examine recent legislative developments, such as the EU Global Human Rights Sanctions Regime and the UK Global Anti-Corruption Sanctions Regulations, and the possible development of an EU-dedicated global sanctions regime against corruption with strong asset recovery components.

Keywords: Corruption; Money laundering; Asset recovery; Magnitsky Act; Global sanctions; Kleptocrats; Confiscation (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-10-2021-0120

DOI: 10.1108/JMLC-10-2021-0120

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