Global sanctions against corruption and asset recovery: a European approach
Journal of Money Laundering Control
ISSN: 1368-5201
Article publication date: 14 December 2021
Issue publication date: 2 January 2023
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
Acknowledgements
With the support of the Erasmus+ Programme of the European Union. This publication reflects only the author’s view and the Education, Audiovisual and Culture Executive Agency and the European Commission are not responsible for any use that may be made of the information.
Funding: With the support of the Erasmus+ Programme of the European Union (EACEA), Jean Monnet Chairs Program.
Citation
Pavlidis, G. (2023), "Global sanctions against corruption and asset recovery: a European approach", Journal of Money Laundering Control, Vol. 26 No. 1, pp. 4-13. https://doi.org/10.1108/JMLC-10-2021-0120
Publisher
:Emerald Publishing Limited
Copyright © 2021, Emerald Publishing Limited