Return of illicit assets of foreign politically exposed persons (PEPs)
If, despite extensive preventive measures, illicit assets of foreign politically exposed persons (PEPs) reach Switzerland, they must be identified and returned to the country of origin.
Restitution of PEP Assets
The return, or so-called restitution, of illicit assets is a key pillar of Switzerland’s policy to combat illegal funds. In certain cases, the FDFA may negotiate a restitution agreement with the foreign state concerned.
The aim of such an agreement is to define, together with the foreign state, the modalities of asset repatriation – in particular the use of the returned funds and the monitoring mechanisms. The funds are intended to benefit the population of the foreign state and must not flow back into corruption.
To date, Switzerland has returned over USD 2 billion to foreign states through this process.
Among the most prominent cases are:
A successful restitution requires a solid partnership between the requesting state and Switzerland. When returning the funds, the principles of transparency and accountability should be respected and the returned assets should be employed in order to improve the living conditions of the population of the country of origin. In addition, the restituted funds might contribute to enforce the rule of law in the country of origin and with that to avoid impunity. It is in Switzerland’s interest to ensure that the restituted funds do not flow back into corrupt channels.
Solution on a case-by-case basis
Based on its experience, Switzerland is convinced that on the basis of a constructive dialogue between the requesting and the requested state, an appropriate solution can be found in each particular case. The solution needs to meet national and international expectations and be in line with the ideas put forward by the governments concerned. In doing so in the past, various programmes in the areas of health, education and good governance could be funded. When choosing such projects, inputs of the civil society in the country of origin are also taken into account. The experience acquired shows that there is no generally applicable solution and the mechanism of the restitution needs to be chosen on a case-by-case basis (no “one-size-fits-all” solution).
Comunicati stampa
Contact
FDFA, Directorate of International Law DIL
Kochergasse 10
3003 Bern