Abstract
Recovering stolen assets through non-conviction based forfeiture is one of eight avenues for asset recovery due to corruption outlined in the United Nations Convention against Corruption. Implementing legislative measures to confiscate criminal property through non-conviction based forfeiture is among the 40 recommendations of the Financial Action Task Force. Vietnam formally signed the United Nations Convention against Corruption in 2003 and, while holding an associate membership status in the Financial Action Task Force, Vietnamese legislation lacks provisions enabling the application of this measure. The magnitude of financial and asset losses attributable to corruption remains substantial, rendering existing legal mechanisms ineffectual. Limited success of asset recovery through criminal judgments were taken into account nonetheless, the current national situation calls for more stringent and emergent practices. Grounded in understanding the efficacy of non-conviction based asset recovery mechanisms, this research paper underscores the necessity for Vietnamese law to incorporate such provisions to combat corrupt practices and proposes actionable recommendations for its adoption. The study seeks to enhance Vietnam’s legal framework concerning asset recovery methodologies for more favorable outcomes in the future. Furthermore, it aims to serve as a credible resource for the global academic community, shedding light on Vietnam’s legal landscape and anti-corruption efforts. The findings of this study also benefit developing nations, particularly those in the process of formulating regulations about non-conviction based asset recovery measures.
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Research funding: This research is funded by University of Economics and Law, Vietnam Natio-nal University Ho Chi Minh City, Vietnam.
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Articles in the same Issue
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Articles in the same Issue
- Frontmatter
- Articles
- Government Supervision of Oil Palm Plantations in Indonesia: Legal Issues and Proposed Remedies
- How Democratic Police Reforms Fail: A Law and Development Perspective on Institutional Processes of Change and Resistance
- Sustainable Development Under AfCFTA: Dimensions, Limitations and Prospects
- Asset Recovery via Non-Conviction based Forfeiture: Rationale for Regulation and Recommendations for Implementation in Vietnam
- Law and Macro Finance
- Modernization of Nigeria’s Mining Industry: The Case for Participation and Sustainable Development of Local Communities
- Human Capital and Growth in Arctic Regional Economies: Evidence, Policies and Institutional Perspectives
- Notes
- Advancing New Governance Models for Gender Data in Climate Resilience Funding