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PM for confiscations to recover crime proceeds parked abroad
Financial Express Mumbai
|August 13, 2023
Modi stressed on the importance of timely asset tracing
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ADVISE TO G20 COUNTRIES
PRIME MINISTER NARENDRA Modi on Saturday suggested that G20 countries can set an example by using non-conviction-based confiscations to speed up recovery of foreign assets created from proceeds of crime.
Modi, who was addressing the G20 anti-corruption ministerial meet here via video conferencing, stressed the importance of timely asset tracing and identification of proceeds of crime and said these measures would also "ensure swift return and extradition of criminals" after due judicial process.
He also said the highest impact of corruption is borne by the poor and the marginalised and asserted the menace affects resource utilisation, distorts markets, impacts service delivery and ultimately diminishes people's quality of life.
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