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"Also encourages States parties to remove additional barriers to asset recovery by ensuring that financial institutions and, where applicable, designated non-financial services and professions adopt and implement effective standards to ensure that such entities are not being used to hide stolen assets, which may include such measures as customer due diligence requirements; the identification and enhanced scrutiny of assets belonging to individuals who are or have been entrusted with prominent public functions, and to their family members and close associates; and the collection and provision of beneficial ownership information; and by ensuring, in accordance with the Convention and domestic law, through robust regulatory action, that they adequately implement those requirements."

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UN (CAC/COSP): Resolutions and decisions adopted by the Conference of the State Parties to the United Nations Convention against Corruption, at its fourth session, p. 11-12, para. 10

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Resolutions and decisions adopted by the Conference of the State Parties to the United Nations Convention against Corruption, at its fourth session

Summaries

States should establish effective laws and mechanisms to facilitate the recovery of illicitly acquired assets and the proceeds of corruption.