A new report by the Stolen Asset Recovery Initiative (StAR) highlights the increase in enforcement actions to counter foreign bribery and the growing prevalence of settlements – that is, any resolution short of a full-scale trial – to conclude such cases and impose monetary sanctions.
The study, “Left out of the Bargain,” looks into the scope and value of settlements in 395 foreign bribery cases that took place between 1999 and mid-2012. StAR’s research examined cases in which the country where the legal settlements took place was different from the country where the bribery occurred.
The study illustrates how little money has been returned or ordered returned to the countries whose officials were alleged to have been bribed. According to the report, only 3 percent (US $197 million out of US $5.8 billion) was returned to those countries.
See full Press Release: http://www.worldbank.org/en/news/press-release/2013/11/27/more-settlements-reached-in-foreign-bribery-cases-but-only-3-of-penalties-goes-back-to-affected-countries
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