Report

Boosting the FATF’s global asset recovery responses

This report from UK think tank RUSI assesses whether the updated Financial Action Task Force recommendations address weaknesses in asset recovery responses.

This Policy Brief assesses the question of whether the updated Financial Action Task Force Recommendations 4 and 38 address weaknesses in asset recovery responses.

Asset recovery is the process by which the proceeds of crime are recovered from criminals and returned to the country from which they were originally stolen, or to their prior legitimate owners. It is a central pillar in combating financial crime and corruption, showing criminals that ‘crime does not pay’. However, to date, global asset recovery rates have remained consistently low.

Improving asset recovery outcomes has thus become a priority for international bodies such as the Financial Action Task Force (FATF).1 In November 2023, the FATF introduced amendments to its Standards focused on enhancing asset recovery efforts and international cooperation (Recommendations 4 and 38). These long-awaited changes are the first updates by the FATF on this subject since the publication of Best Practices on Confiscation in October 2012.