Team Blitz India
KOLKATA: Prime Minister Narendra Modi underscored the imperative of bolstering domestic mechanisms for asset recovery among nations while emphasising the critical role of timely asset tracing and identification of proceeds derived from criminal activities.
He was addressing the G20 Anti-Corruption Working Group’s final ministerial meeting in Kolkata on August 12 via video conference. PM Modi recollected his inaugural participation in the G20 Summit back in 2014.
Reflecting on the persistent challenges posed by fugitive economic offenders for all G20 nations, as well as the Global South, during his initial engagement in the G20 Summit, PM Modi recalled putting forth a comprehensive nine-point agenda aimed at tackling such offenders and facilitating asset recovery at the 2018 G20 Summit. He expressed satisfaction over the decisive actions undertaken by the working group to this end.
PM Modi conveyed that an agreement had been reached regarding informal collaboration between law enforcement agencies, a measure designed to prevent criminals from exploiting legal gaps whilst traversing international borders.
He welcomed the adoption of action-oriented high-level principles focusing on three key areas: strengthening law enforcement cooperation through information sharing; enhancing mechanisms for asset recovery; and bolstering the integrity and efficacy of anticorruption bodies.
The Prime Minister proposed that G20 nations could exemplify the use of non-conviction-based confiscation processes to expedite the recovery of foreign assets. This, he explained, would ensure a swift repatriation and extradition of criminals post a judicious judicial procedure, thereby sending a robust signal of collective commitment against corruption.
Simultaneously, PM Modi underscored that the collective endeavours of G20 nations could play a pivotal role in supporting the battle against corruption. He stressed that substantial strides could be made through heightened international collaboration and the implementation of robust strategies addressing the fundamental origins of corruption.
Furthermore, he highlighted the indispensable role of audit institutions in the anti-corruption crusade, urging dignitaries to foster a culture underpinned by ethics and integrity within their value systems. He also accentuated the importance of reinforcing administrative and legal frameworks to solidify this pursuit.
“Only through these measures can we lay the groundwork for an equitable and sustainable society,” PM Modi affirmed. He concluded by wishing all participants a fruitful and successful meeting.