16th IACC adopts Putrajaya Declaration, eight resolutions

The Putrajaya Declaration and eight resolutions were adopted at the 16th International Anti-Corruption Conference (IACC), with the member countries pledging to work together to stop the rapid spread of corruption.

The eight resolutions, among others, will focus on numerous actions to prevent corruption, to stop corruption, to make sure corrupt acts are not repeated and to ensure the corrupt not only feel the full force of the law but fully repay their debts to the society.

The declaration makes clear that asset recovery is essential because it restores the trust of people and constitutes a sanction that reduces the incentives for corruption and at the same time compensates for the damaged caused.

Besides, the declaration underlined efforts to recover stolen assets are as important to make sure there is no safe haven for the corrupt or a way for them to enjoy illicit wealth.

"It should be made impossible for the corrupt to use diplomatic passports and investor's visa programmes to avoid justice," the declaration said.

The declaration also highlighted that grand corruption should become a crime of international law, that would enable international institutions and alliances to prosecute offenders.

It suggested to develop additional international mechanisms to apprehend, prosecute, judge and sentence those who have committed crimes of grand corruption.

In addition, the declaration indicates that the corrupt should not be able to use secret companies to hide their wealth, and banks should make every effort to comply with anti-money laundering laws as well as prevent money laundering from flourishing.