Because the best idea I’ve heard of for a very long time is an initiative by the UN and the World Bank called Stolen Asset Recovery, or StAR, to help developing nations to recover the proceeds of theft by corrupt leaders. Assets so far targeted for recovery include those stolen by Muhamed Suharto of Indonesia (estimated at between US$15-35 billion), Ferdinand Marcos (Philippines, $5-10 billion), Mobuto Sese Seko (Zaire, $5 billion), Slobodan Milosevic (Yugoslavia, $1 billion), Jean-Claude Duvalier (Haiti, $0.3-0.8 billion), Alberto Fujimori (Peru, $0.6 billion), Pavio Lazarenko (Ukraine, $0.114-0.2 billion), Arnoldo Aleman (Nicaragua, $0.1 billion) and Joseph Estrada (Philippines, $0.07-0.08 billion).Lulu googled it, and learnt quite a bit.
Their mission statement
By signaling to corrupt leaders that there will be no safe haven for stolen assets, StAR would constitute a formidable deterrent to corruption in developing countries. StAR would also serve to bring in the other side of the corruption equation, as stolen assets tend to be stashed in developed country financial centers.
In their executive summary
The theft of public assets from developing countries is a huge and serious problem:
• The cross-border flow of the global proceeds from criminal activities, corruption, and tax evasion is estimated at between $1 trillion and $1.6 trillion per year.
• Corrupt money associated with bribes received by public officials from developing and transition countries is estimated at $20 billion to $40 billion per year—a figure equivalent to 20 to 40 percent of flows of official development assistance (ODA).
The underlined bits sounds familiar, right? Makes Lulu wonder what M'sia's percentage is.
If using the "don't need to tell the rakyat the truth" AG report, it could me as much as 11400% more [remember the RM50 car jacks which were contracted for RM5,741?
Someone recently bisik-ed to Lulu's ear that a government contract which was costed by the supplier at RM9million was tendered and approved even though the middleman submitted it at RM18million. No prizes for guessing who pocketed the RM9million [and more]. Kinda makes you miss the 10% days of the old regime.
The cost estimates suggest that every $100 million restituted to a developing country could fund:
• 3.3–10 million insecticide-treated bednets, which are twice as effective as regular bednets; or
• First-line treatment for over 600,000 people for one year for HIV/AIDS; or
• 50–100 million ACT treatments for malaria; or
• Full immunizations for 4 million children; or
• Approximately 250,000 water connections for households; or
• 240 kilometers of two-lane paved road.
Gosh... we could even send another spaceflight participant up to the moon!
Dean reminds Lulu at the end of the article that
As I understand the StAR system, proceedings can at this stage be instigated only by the current government of plundered countries. So unless and until Malaysia achieves a change of ruling regime, we’re unlikely to see a BN leader on the StAR hit-list.
well... some gals dream about diamonds, Lulu dreams about StAR...
Stolen Asset Recovery (StAR) Initiative: Challenges, Opportunities, and Action Plan can be found here