TRACKING AND FREEZING ILLEGALLY OBTAINED ASSETS: A COMPARATIVE STUDY OF APPROACHES

Abstract

This comprehensive study examines the diverse national approaches to tracing and freezing illicitly obtained assets, focusing on their effectiveness in the broader context of asset recovery. Through a comparative analysis of legal frameworks, procedural mechanisms, and practical implementations across various jurisdictions, the research highlights the critical role of asset tracing and freezing in combating financial crimes and corruption. The study explores the challenges faced by different nations, including due process concerns, human rights considerations, and the impact of political influence on asset recovery efforts. By analyzing best practices and successful case studies from multiple regions, this research aims to identify effective strategies and propose ways to harmonize and enhance asset tracing and freezing mechanisms on a global scale. The findings underscore the need for increased international cooperation and the development of more robust, standardized approaches to improve the efficacy of asset recovery initiatives worldwide.