International Asset Sharing A Multipurpose Tool for Development Karyn Kenny The ability of governments across the globe to work effectively together to identify, seize, and forfeit illicit gains and combat the money laundering and the corruption that stem from these illicit gains is a critical component of international development. “Taking the profit out of crime” is an important goal within the international asset forfeiture (AF) and anti-money-laundering (AML) community. The need to strengthen AF/AML cooperation on a global level is even more important. As the US Attorney General pointed out in March 2012, “[i]n an era where crime is not limited by physical boundaries, our international partnerships are more critical than ever in the work of bringing criminals to justice.”1 One such tool for development that strengthens international cooperation, builds domestic capacity, and combats transnational economic crime is international asset-sharing programs (IASPs). IASPs are agreements that permit the sharing country to recognize case-related assistance received from other countries during a domestically prosecuted forfeiture and/or money-laundering case. This chapter outlines the components of an IASP and examines IASPs as a mechanism to aid economic and legal development. The chapter first examines the topic of international asset sharing from the perspective of an international organization, specifically, the United Nations (UN). The analysis then turns to a discussion of countries participating in asset-sharing agreements, such as The Bahamas and Canada. Then it explores the US Department of Justice’s (DOJ) IASP program in detail, focusing first on the US legislative framework regarding forfeiture and the DOJ’s management model for forfeited property and funds and then on the manner in which DOJ international sharing agreements are structured. The chapter concludes with an overview of the benefits of implementing a transparent and accountable IASP. Interwoven throughout the discussion are the developmental benefits that can be realized by implementing an IASP. Tangible benefits include building international cooperation among justice and financial agencies (for example, Any opinions expressed in the chapter are the author’s own and do not, in any way, reflect the official position or views of the US DOJ. The author would like to thank Hassane Cissé, Thomas Dougherty, Agustin Flah, Jenifer Preston, Matthew Moorhead, Milena Sanchez de Boado, and Linda Samuel for their support. 1 Remarks by the Attorney General of the United States Eric J. Holder, Jr. (Mar. 26, 2012), available at http://www.gsnmagazine.com/node/25953 (accessed Mar. 28, 2012). Mark Rockwell, U. S., Mexico to Split Millions in Seized Assets to Cripple Drug Gangs, Government Security News (Mar. 27, 2012).
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