Asset Recovery in the Context of International Criminal Court Proceedings in Light of FATF Standards

Abstract

The Assembly of States Parties to the Rome Statute has stressed the need to enhance international cooperation mechanisms, in order to effectively and expeditiously identify, trace, freeze and confiscate assets derived directly or indirectly from a crime within the jurisdiction of the International Criminal Court (ICC). In view of the obstacles to asset recovery in the context of ICC proceedings, we argue that a more proactive and innovative approach is needed, one based on the use of more effective tools for financial investigations. In this context, it is worth exploring ideas for closer synergies between ICC proceedings and the work of the Financial Action Task Force (FATF), as well as the action of the UN Security Council, in all stages of the asset recovery process.